Bayer earns $8.5 billion in Asia-Pacific, 10th consecutive year of growth for pharma arm

SINGAPORE – Pharmaceuticals big Bayer introduced €5.8 billion (S$8.5 billion) in pharmaceutical gross sales final year in the Asia-Pacific area.

The determine is up 4.8 per cent from the year earlier than, marking the 10th consecutive year of growth in the area for the corporate’s prescribed drugs division, stated Bayer in a press release on Wednesday (April 20).

Within Asean, the corporate recorded a median growth of 9 per cent throughout Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.

It additionally stated enterprise in the area contributed to nearly one-third of its world prescribed drugs gross sales.

Singapore is Bayer’s Asia-Pacific headquarters for its prescribed drugs, crop science and client well being divisions, and Asean nation group platform.

The firm additionally stated 2022 will likely be a “breakthrough year” for its prescribed drugs arm, with 4 medication that concentrate on most cancers and cardiovascular ailments slated for launch.

Dr Ying Chen, head of industrial operations for Bayer’s prescribed drugs division in the Asia-Pacific, stated the constant sturdy growth in the area is testomony to the worth the corporate gives to sufferers in areas the place medical wants are excessive.

Dr Chen, who has been primarily based in Singapore since final July, reckons a dedicated, gifted and various employees is central to Bayer Pharmaceutical’s sturdy efficiency.

In a separate interview with The Straits Times, she famous that its workers in Singapore keep for greater than seven years on common.

And key to the sterling retention figures are a swathe of help and expertise improvement programmes.

Employees can make money working from home twice every week, and entry a 24/7 worker help hotline for assist they want, resembling for their psychological well being.

Senior employees can take up a “reverse mentorship”, which permits junior employees to mentor senior employees in explicit expertise.

“One of our senior leaders took it up as he wanted to learn more about social media and engaging (people across) multiple channels, and we found someone who taught him many new skills,” stated Dr Catherine Donovan, head of medical affairs at Bayer Pharmaceuticals in the Asia-Pacific.

Gender range in Bayer Pharmaceuticals in Singapore has additionally exceeded the goal of 50 per cent at every stage of administration set by Bayer globally, with over 60 per cent of employees in the pharmaceutical division in Singapore being ladies.

But Dr Chen added: “We emphasise that we are gender agnostic – we hire based on talent, capabilities and expertise.”

Dr Donovan stated she noticed that though quite a bit of feminine graduates work in analysis and improvement, in addition to science, feminine illustration often declines at senior ranges.

Talent schemes that recognise the wants of high-potential employees from totally different genders, cultures, skilled backgrounds and age teams are in place to make sure their potential will be realised.

Said Dr Chen: “We have a tailor-made programme, whether or not (you might be) a working mum, from a minority, or come from a unique nation.

“For instance, a working mum may not be able to relocate, but can still take on a global project virtually as a short-term assignment.”

High-potential employees are given particular, short-term assignments designed to stretch them and supply them with extra publicity throughout totally different domains and areas.

“The key to talent development is to make sure you have aggressive goals in mind and a clear idea of where high-potential people can develop further,” stated Dr Chen.

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