SINGAPORE – Bayer Schering Pharma Asia Pacific is aiming to grow its business faster than the industry average this year after reporting a 13 percent improvement in sales last year to EUR 1.04 billion, ($1.41 billion) from EUR 910 million ($1.237.6 billion) in 2008, despite the global crisis.

In a press briefing here on Friday, BSPAP regional head Alok Kanti said this makes Asia Pacific the fastest growing region for the German pharmaceutical company noting that they even started as being pessimistic in the first quarter of 2009 because of the economic slowdown.

He said “2009 was operationally a very strong year. We continued to deliver double-digit sales growth despite the weakened economy. Our focused strategy in countries like China and Korea is materializing, and we are now optimistic that we can also realize it in other emerging markets like Vietnam and India.”

He said Bayer Schering Pharma expects to be one of the top ten key pharma players with top line growth above the market in Asia Pacific.

Kanti said growth this year will be spurred by the company’s strong focus on emerging markets like Korea, Vietnam and India adding that significant investments will go into enhancing its expertise in research and development, talent development, and improving patients’ access to novel therapies.

He noted that the region is expected to register above average economic growth and offers a lot of opportunities because the region is coming from a low starting point in healthcare usage.

For the Philippines, Kanti said sales reached EUR 3 million ($4.08 million) last year and they intend to boost growth this year with by introducing more products into the country consisting of both patented and branded generic products.

Kanti said that while earnings have been affected by price reductions because of the Cheaper Medicines Law, its effects will only be for the short term as the firm expects more sales with the introduction of its branded generics products.

He explained that branded generics are medicine that have expired patent but have been further improved by Bayer Schering Pharma to add value and ensure that these maintain the high quality standards of their brand.

Among the firm’s growth initiatives for the region is raising the number of its work and sales force: by 20 percent in Korea, triple in Vietnam and double in India.

BSP will also continue to invest in research and development as well as improve education of patients and physicians about the company’s products and new therapies.

Bayer Schering Pharma's sales in Asia Pacific, which excludes Japan, grew 13% to EUR1.04 billion in 2009. Asia sales represent 10% of Bayer Schering Pharma's global sales.

The pharma group's sales in the region in 2009 were driven by products such as the Yaz oral contraceptive pill, Nexovar oral anti-cancer medication and the antiplatelet AspirinCardio.