30 April 2010 18:59 [Source: ICIS news]
TORONTO (ICIS news)--Germany’s proposed healthcare reforms are too focused on “short-term interventionist measures” and as such may affect producers’ ability to innovate in the country, Bayer chief executive Werner Wenning said on Friday.
In a criticism of Chancellor Angela Merkel’s reforms, Wenning said ?xml:namespace>
Research-based pharmaceutical companies had the capability and would continue developing innovative medicines, he said.
“… I’m sure you agree with me that the politicians should encourage us to do so,” Wenning told shareholders at the company’s annual meeting in
Earlier, the country's chemical industry group VCI also said it was sceptical about Merkel's healthcare reforms.
Planned healthcare savings in drugs and medicines would harm firms’ ability to innovate and invest in Germany and therefore could jeopardise jobs in the industry, the Frankfurt-based group said.
The pharmaceutical industry was spending over 10% of sales on research and development (R&D) and as such made an over-proportional contribution to the EU’s "Europe 2020" strategy, which aims at 3% of gross national product to be invested in R&D, the group added.
Leverkusen-based Bayer - a major chemicals and pharmaceuticals firm - this week reported first-quarter sales at its healthcare division of €3.87bn, or almost 47% of its overall 2009 first-quarter sales of €8.32bn ($10.95bn).
Friday's annual meeting was Wenning’s last as Bayer chief executive. He is due to be succeeded by Marijn Dekkers in October.
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections