Bayer Forecasts Asia Sales to Exceed $15 Billion by 2015, Driven by China

http://www.bloomberg.com/news/2011-11-16/bayer-forecasts-asia-sales-to-exceed-15-billion-by-2015-driven-by-china.html

Bayer AG (BAYN) said it expects sales in Asia to grow more than 60 percent by 2015 as the drug and chemical maker builds local factories and sales networks.

Bayer aims to capitalize on Asia’s expansion as the debt crisis curbs growth in Europe. The inventor of aspirin said last year it would cut 2,000 jobs by the end of 2012 under a program to shift resources to emerging markets.

Sales in India will double to about 1 billion euros by 2015 from about 500 million euros last year, the company said. Sales in Japan are expected to rise to about 2.4 billion euros from about 2 billion euros.