Global pharmaceutical giant Bayer (BAYRY)
has hit a number of homeruns lately, with new product launches for prostate cancer, multiple sclerosis, and macular degeneration, an age-related eye conditions. But it’s being overshadowed by some negative attention as a company overall.
There’s the lawsuit of gender bias in its U.S. operations that has eight women accusing the company of limiting women's ability to achieve better and higher-paying jobs and of condoning harassment in the workplace. The suit, which was originally filed in a New Jersey federal court in March with six plaintiffs, is seeking $100 million in damages and could cover up to 1,000 female workers.
Across the pond in the U.K., where advertising prescription-only medicines to the public is banned, Bayer has had to apologize publicly for two tweets earlier this year that were linked to approved press releases. No formal reprimand or fine is expected as a result of the PR slips, thought it’s likely the company will stay away from Twitter for a while.
Over in China, the message is full steam ahead. The company expects to double its sales there to $8.64 billion by 2015, China Daily reports, as the company follows up on a $1.43 billion investment in the country announced last year. R&D for the growing Asian market will be one major focus, with an aim on expansion of its polymer research and development center.
Complimenting Bayer’s R&D investments in China is a major ramp-up of its medical training program. It aims to train 10,000 rural medical professionals in the western part of the country.
As of June, approximately 4,000 rural doctors from 13 provinces and autonomous regions have accepted the training, including some 2,500 ethnic minority doctors from Yunnan, Qinghai, and Guizhou provinces, as well as the Xinjiang Uygur and Tibet autonomous regions, China Daily reports.
Half-year results are set for July 28, following first quarter results that saw 13 percent growth year-on-year, with net income up 8.4 percent.
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