Bayer concentrates on long-term growth:
This article was originally published in Clinica
Bayer is pursuing "an even more expansionary course than before", with extra money invested in R&D, according to its chairman, Manfred Schneider. The chief beneficiaries of increased investment are the healthcare - which includes diagnostics - and agriculture sections, which will share 70% of the DM4.1 billion ($2.2 billion) R&D budget for 1998. The German company had sales of DM14.3 billion in the first quarter, up 8% on the previous period. Net income rose by 21% to DM864 million.
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