Bayer Launches Unit to Develop New Precision Health Consumer Products
BASEL, Switzerland , May 31 /Businesswire/ - The Consumer Health Division of Bayer has launched a business unit focused on developing new Precision Health products across its range of everyday health categories. Bayer will prioritize developing products that enable people to take greater control of their own personal health through digital solutions that facilitate more informed choices based on personal insights and novel delivery mechanisms.
The shift in the healthcare industry is clear, people need better self-care with the ability to predict, prevent and better manage their health. In fact, an analysis conducted for Bayer found over 80% of consumers globally already demand greater healthcare personalisation. Technology advancements have enabled a wave of new digital products such as diagnostics, apps and therapeutics to help them do so. Closing the gap between monitoring, awareness and diagnosis on one end and education, treatment and prevention on the other is the key to consumers being empowered to have end-to-end control over their own personal health.
The new Bayer Precision Health group will be responsible for closing this gap by identifying digital and digital-supported consumer healthcare opportunities. It will be embedded within the business and made up of leaders with diverse responsibities and expertise. The group will focus on addressing unmet needs in its core categories, delivering new evidence-based precision health products to market that offer end-to-end self-care, and scaling technologies globally. It will work with start-ups and other digital health providers as well as upskill Bayer’s existing digital capabilities.
“As people increasingly turn to self-care to manage their everyday health, new digital tools are enabling them to make smarter choices through deeper and more precise understanding of their individual needs,” said David Evendon-Challis, Head of R&D and Chief Scientific Officer for the Consumer Health division of Bayer. “With global leadership in the core categories people turn to for self-care, from cardiovascular and digestive health to pain management and immunity, Bayer will offer a wide range of precision health products and services.”
Patricia Corsi, Chief Marketing, Digital, and Information Officer at Consumer Health added, “Consumers are consistently looking for health solutions that go beyond traditional product formats like pill or cream. By delivering against their needs, we continue on our journey to increase brand value and engagement with the people we serve while progressing on our digital transformation journey for our Consumer Health business.”
Bayer has already been active in the precision health space. In 2021, the company piloted projects with partner Ada Health to embed its AI-based symptom assessment into several of its brands to help customers better understand their symptoms and how they could be treated. Earlier this year, Bayer launched the first step of a new heart health ecosystem in the United States with an innovative heart risk assessment powered by HUMA. The assessment is fully digital and gives consumers a highly accurate personal risk assessment of developing cardiovascular disease without blood tests or physical examination. Bayer has also advanced several other projects in its pipeline with anticipated launches beginning later this year.
“Digital health products are a perfect addition to the treatments we have offered for decades,” said Aquil Harjivan, R&D Head – Digital Health for the Consumer Health division of Bayer. “We believe the best of precision health will be driven by partnerships so we look forward to working with the most innovative, evidence-driven companies committed to transforming everyday health.”
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2022, the Group employed around 101,000 people and had sales of 50.7 billion euros. R&D expenses before special items amounted to 6.2 billion euros. For more information, go to www.bayer.com.
Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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