Dec. 20 (Bloomberg) -- Bayer AG said four of its drugs in development may become blockbusters, ultimately contributing 5 billion euros ($6.5 billion) to annual revenue.
Blood-thinner Xarelto has the brightest prospects, with peak sales probably exceeding 2 billion euros a year, Leverkusen, Germany-based Bayer said in a statement on its website today. Bayer’s eye drug VEGF Trap-Eye and cancer medicines Alpharadin and regorafenib have billion euro potential, the drugmaker said.
Bayer will allot two-thirds of next year’s 3 billion-euro research and development budget to developing more new drugs, the company said. Bayer needs new medicines to grow as its top- selling multiple sclerosis treatment Betaseron faces competition and contraceptives Yaz and Yasmin face safety-related lawsuits in the U.S.
“Our pipeline is now beginning to bear fruit,” Chief Executive Officer Marijn Dekkers said in the statement.
European authorities approved Xarelto for patients with an irregular heartbeat called atrial fibrillation yesterday. The drug, expected to compete with Boehringer Ingelheim GmbH’s Pradaxa and Pfizer Inc. and Bristol-Myers Squibb Co.’s Eliquis, is already approved in the U.S., where Bayer markets Xarelto together with Johnson & Johnson.
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