Bayer to invest 2 bln euros in drug production over next 3 years

FRANKFURT, March 31 (Reuters) – German drugmaker Bayer (BAYGn.DE) said it would invest around 2 billion euros ($2.23 billion) at pharmaceutical manufacturing sites over the next three years, mainly to bolster production of biotechnology drugs as well as cell and gene therapies.

FILE PHOTO: A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay

The sites to be upgraded include Berkeley, California, as well as Berlin, Leverkusen and Bergkamen in Germany.

In addition, Bayer will transfer a manufacturing plant in Sao Paulo Cancioneiro, Brazil, as well as parts of the infrastructure and services at the German sites in Bergkamen, Wuppertal and Berlin to new operators.

($1 = 0.8956 euros)

Reporting by Ludwig Burger, Editing by Miranda Murray

Our Standards: The Thomson Reuters Trust Principles.

 

Reuters source:

https://www.reuters.com/business/healthcare-pharmaceuticals/bayer-invest-2-bln-euros-drug-production-over-next-3-years-2022-03-31