Bayer AG - Annual Report 2006 - Sector’s largest R&D budget

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Sector’s largest R&D budget

Some 140 journalists came to Leverkusen in October 2006 to attend the press forum entitled 'Bayer's Perspective on Innovation.'

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Some 140 journalists came to Leverkusen in October 2006 to attend the press forum entitled “Bayer’s Perspective on Innovation.”

Leverkusen – The Bayer Group aims to further strengthen innovation as one of the most important goals of its corporate strategy. “Research is key to success. We must exploit our scientific potential to the full and consistently translate research findings into new products,” Bayer AG Management Board Chairman Werner Wenning said in October before an audience of some 140 media representatives from 16 countries at the press forum “Bayer’s Perspective on Innovation 2006” in Leverkusen.

In 2006 Bayer invested €1.9 billion in research and development – not including Schering. “That is more than any other chemicals and health care company in Germany,” said Wenning. The Schering acquisition strengthens Bayer’s pharmaceutical research in particular, with Germany remaining Bayer’s principal research location. With the integration of the acquired business, Bayer’s research and development expenditures in 2006 increased to about €2.3 billion, more than 65 percent of which was spent in Germany.