Progress in transformation of pharmaceuticals business
Bayer reported progress in transforming its pharmaceuticals business at a conference last week.
The virtual event, called Pharma Media Day, was themed “Transforming Healthcare. Transforming Bayer.” During the conference, the company explained how it is driving its strategy in cell and gene therapy, digital health and its development portfolio.
Regarding its current transformation, the company wrote in the headline of its press release, “Bayer transforms pharma business with breakthrough innovations.” According to the company, the focus will be on innovations in healthcare for patients suffering from diseases that are currently difficult to treat.
To achieve its goals, the Leverkusen-based company relies, among other things, on external innovations. Accordingly, Bayer informs that intensive investments have been made in such innovations in recent times. For example, more than 25 cooperation agreements and acquisitions were concluded in 2020.
Platform for cell and gene therapy
Stefan Oelrich, member of the Board of Management of Bayer AG and head of Bayer’s Pharmaceuticals Division, explained the realignment as follows: “The biomedical and technological revolution that is impacting healthcare at unprecedented speed is happening now. Our company is at the forefront of the wave of innovation in cell and gene therapy and in digital healthcare.”
Bayer has built a new platform for cell and gene therapy. The company plans to use it to manage the strategy of this area. It will also be used to coordinate all activities within the value chain. According to the press release, this platform provides an innovation ecosystem for all of Bayer’s partners in this field.
Digital health offerings
Bayer says it expects digital health offerings to become an important pillar of modern healthcare. In this context, the Group sees advantages in combining conventional healthcare with innovative digital technologies.
That is why the decision was made to make integrated healthcare a central element of the business strategy in the digital field. Here, Bayer is working with Informed Data Systems Inc. among others, a healthcare company specializing in digital solutions.
Summing up developments in Bayer’s Pharmaceuticals Division, Stefan Oelrich said, “We are driving forward the transformation of our business and are expanding our promising development portfolio together with our partners. Our common goal is to provide patients with breakthrough therapies and make healthcare systems more sustainable in the medium and long term.”