Bayer sees benefits of R&D changes as early as 2016
Germany's Bayer expects a campaign to accelerate the pace of new discoveries of ingredients for pharmaceuticals and pesticides to yield results as early as 2016, a management board member said.
"We expect it to be reflected in our pipeline in the next two, three, four, five years," Wolfgang Plischke, Bayer's outgoing innovation chief, told Reuters in an interview.
Under the project named Nimbus, announced in 2012, Bayer's human and animal health businesses as well as its CropScience division are being tied together more closely and hundreds of Bayer researchers are encouraged to exchange information that could help in the discovery of new ingredients.
Bayer hopes the project will give it an edge over rivals such as Sanofi, Pfizer or Syngenta, which do not have all three business areas under one roof.
Bayer has said in the past it plans to provide up to 30 million euros ($41.3 million) per year to finance the Nimbus project. It spent an overall 3.01 billion euros on research in 2012, up from 2.9 billion in 2011.
"Our philosophy is to have similar research budgets for the coming years," Plischke said.
- Ag markets turned mostly lower Tuesday morning
- GMO safety, weed control top concerns as U.S. study kicks off
- WSU researchers explain mystery of cereal grain defense
- Soybean success: Highest yield in Georgia history
- Innovative conservation efforts highlighted at Vilsack farm visit
- Pre-harvest weed control in row crops
- U.S. GMO labeling foes triple spending in first half of this year
- Activists fighting Golden Rice even more in 2014
- Source shows half of GMO research is independent
- White House issues veto threat on bill to block WOTUS rule
- Stoller soybean research produces 214 bushels per acre
- Ag markets turned generally mixed Monday morning