German chemicals and drugs group Bayer expects higher profit margins and sales at its healthcare division over the next three years, where product launches are set to boost prescription drug sales by 16 percent. The healthcare division, which also makes non-prescription and animal health drugs, contrast agents and blood glucose meters, is aiming for sales of roughly 20 billion euros ($26.2 billion) in 2014, up from 17.2 billion euros last year, Germany’s largest drugmaker said on Wednesday. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) at the unit should reach at least 28 percent of sales by the same date, up from 27.4 percent in 2011, it added.
