Bayer Reports 2020 Financial Results: China Revenue Reaches €3.483 Billion Amid Strong Pharmaceutical Performance

On February 25, Bayer announced its 2020 financial results, with total annual revenue reaching €41.4 billion, a year-on-year decrease of 4.9%. The Pharmaceutical Division generated revenue of €17.243 billion, down 4.0% year on year. Revenue from the China region amounted to €3.483 billion, accounting for 20.2% of Bayer’s Pharmaceutical Division revenue.

In 2020, Bayer’s best-selling drug was Xarelto (rivaroxaban), an anticoagulant co-developed with Johnson & Johnson. Bayer is responsible for markets outside the United States. Driven by significant sales growth in China and Europe, particularly in Russia, Xarelto achieved sales of €4.515 billion, representing a year-on-year increase of 9.4%. According to financial reports disclosed by both companies, global sales of Xarelto reached $7.5 billion in 2020 (with Johnson & Johnson recording $2.345 billion in U.S. market sales).

The second highest-selling product was Eylea (aflibercept), an ophthalmic drug jointly developed by Bayer and Regeneron. Bayer is responsible for the commercialization of Eylea outside the United States, generating sales of €2.468 billion, flat compared to 2019. The launch of the Eylea pre-filled syringe and the normalization of treatment in the second half of the year offset the impact of the pandemic in the first half. According to financial reports disclosed by both companies, Eylea’s global sales reached $7.91 billion in 2020.

The secondary prevention drug for heart disease, Aspirin Cardio (aspirin), also demonstrated robust growth, with a year-on-year increase of 10.4%. This was primarily driven by a sharp rise in demand in China and Mexico, partly due to the use of this product in the treatment of patients with COVID-19.

Sales of the anticancer drug Nexavar (sorafenib) declined due to intense competition in the United States, which was partially offset by strong growth in China, resulting in global sales of RMB 639 million in 2020.

Furthermore, Bayer disclosed the patent status of its key products in its financial report. The patents for aflibercept, sorafenib, and rivaroxaban expired in China in 2020. The patent for aflibercept will expire in the European Union in 2025. The patent for rivaroxaban will expire in the European Union in 2023, in the United States in 2024, and in Japan in 2025.

In 2020, the most noteworthy development remained Bayer’s business transformation journey. Throughout the year, Bayer completed 25 overseas investments, acquisitions, or development collaborations globally. In December 2020, it finalized the $4 billion acquisition of AskBio, gaining a portfolio of highly promising gene therapy drugs in development. AskBio’s product pipeline includes preclinical and clinical-stage candidates for the treatment of neuromuscular, central nervous system, cardiovascular, and metabolic diseases. Gene therapies targeting Parkinson’s disease, heart failure, and Pompe disease have already entered clinical development.

Bayer has currently integrated and mastered four cell and gene therapy platforms.

Regarding the 2021 performance outlook, Bayer aims to achieve a 5% growth in its pharmaceuticals business. Driven by product innovation, particularly the advancement of digital transformation in healthcare, growth rates across all regions are expected to rise compared to 2020, with especially optimistic prospects for development in the Asian market.