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Business

Bayer Strengthens R&D

by Patricia L. Short
December 22, 2008 | APPEARED IN VOLUME 86, ISSUE 51

Bayer has pledged to further expand its R&D activities despite the current economic crisis. "It is especially important at this time not just to patch things up for the short term but to expand one's vision and keep in mind the need for sustained success," Chairman Werner Wenning said during a recent press conference. He pointed out that the company's 2008 R&D investment of roughly $3.8 billion "represents the biggest R&D budget in Germany in the chemical and pharmaceutical sector and amounts to about 5% of all R&D spending by German industry as a whole."

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