By Giulia Petroni

Bayer AG on Tuesday raised its peak sales forecast for its pharma portfolio to more than 12 billion euros ($12.8 billion) amid potential blockbuster drugs tracking ahead of schedule and targeted investments.

The German pharmaceutical company said that drugs Nubeqa and Kerendia have registered a strong market uptake and could generate sales of more than EUR3 billion each. Nubeqa is used for the treatment of prostate cancer patients while Kerendia targets cardio-renal disease.

Asundexian, which could potentially serve as a distinct option for the prevention of thrombosis and ischemic strokes, has projected peak sales of more than EUR5 billion, according to Bayer.

"New therapeutic targets and modalities are increasingly contributing to our early development portfolio and already representing a large part of our annual R&D resources, reflecting their importance for our renewed strategy," Christian Rommel, head of research and development, said. "For 2023, we are expecting several important development milestones for both our early and late-stage pipeline that will allow us to further advance medical innovations."

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

January 10, 2023 08:51 ET (13:51 GMT)

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