German pharma giant Bayer plans to spend 2 billion euros ($2.2 billion) over the next three years to upgrade its manufacturing and supply chain capabilities as it dives deeper into cell and gene therapies. As part of the effort, the company is selling certain sites to outside partners.
The moves are part of the company’s push to retool its pharmaceutical business to focus on breakthrough biotech innovations that can deliver long-term growth. Earlier this month, the company said it planned to invest heavily in artificial intelligence, data science and multichannel marketing as well.
