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Bayer allocates resources to grow oncology and cardiology biz in US

25 March 2023 | News

New R&D strategy and operating model sharpening innovation focus and strengthening early development pipeline in oncology, cardiovascular, neurology & rare diseases and immunology

image credit- shutterstock

image credit- shutterstock

During this year’s Pharma Media Day 2023 on March 24th, German pharmaceutical firm Bayer showcased how its investments in strategic technology platforms accelerate its medical and digital innovations and will advance the company’s leadership ambitions in cardiology, oncology, and radiology. In addition, Bayer provided insights into its innovation strategy, comprising enhanced research and development (R&D) capabilities in key areas.

The company has doubled its portfolio of oncology treatments over the past five years, with nearly one third of new molecular entities within Bayer’s development pipeline dedicated to fighting cancer, spanning all phases of clinical development. In particular, the company highlighted its plans to become a leader in the treatment of prostate cancer, the second most commonly diagnosed cancer in men.

Bayer is advancing its oncology R&D efforts in three scientific areas that have the potential to address unmet needs in cancer patients. This includes targeted radiopharmaceuticals (specifically targeted alpha therapies), next-generation immuno-oncology and precision molecular oncology approaches.

Bayer is investing to leverage the power of data and rapidly evolving technologies such as artificial intelligence throughout the entire pharma value chain, from discovery to production. The company is partnering with technology leaders such as Google Cloud and biotech leaders such as Recursion Pharmaceuticals, Inc. to access new areas of innovation.

With bold investments in industry-leading technology platform companies, we have bolstered our R&D capabilities and strengthened our early development pipeline,” said Stefan Oelrich, Member of the Board of Management, Bayer AG and President of Bayer’s Pharmaceuticals Division. “We will specifically allocate resources to grow our oncology and cardiology businesses in the U.S. The implementation of our strategy aims to deliver new medicines to patients faster and drive sustainable growth across our key areas of focus.”

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