Bayer Korea marks 70th year, preparing for 100-yr milestone

Bayer Korea started as a crop protection business after the Korean war…launched its key pharmaceuticals in the 1960s

Established Bayer corporation in 1970, officially expanding the company…established its current company through merger and acquisitions

Demonstrated R&D capacity over the years with Aspirin through Eylea…focuses on securing new growth drivers

Bayer Korea, celebrating its 70th year in business in the Korean market, is preparing for the next leap toward the 100th year.

 

The company plans to enhance the capacity of treatments already launched in the market and its new growth driver pipeline, aiming for long-term and continuous business growth.

 

Additionally, as the importance of the ESG business has been stressed, the company pursues sustainable business by setting specific directions.

 

Bayer launched in South Korea after the Korean war…Bayer known for Aspirin Bayer Korea, the South Korean subsidiary of the global life sciences company Bayer, entered the Korean market in 1955, starting with its crop protection business.

 

In the 1950s, during the post-Korean War period when food shortages were severe, Bayer Korea collaborated with Dongbu Farm Hannong (previously, Korean Agricultural Association) to enhance agricultural productivity.

 

The company’s primary focus was providing various crop protection products to improve crop yields.

 

In the 1960s, Bayer products began manufacturing in South Korea through a technology partnership with Hanil Pharmaceutical.

 

This period marks the introduction of Bayer products into the Korean market.

 

The representative product at the time was aspirin, a widely used pain reliever with over 120 years of history.

 

Historical records also indicate that Bayer contraceptives were distributed to public health centers in South Korea.

 

Bayer's full-scale business expansion took place in 1972 with the establishment of Bayer Pharmaceuticals Korea.

 

The company acquired 30 locally produced products from Hanil Pharmaceutical, including Bayer Aspirin, extending its business into the healthcare sector.

 

In 1989, Bayer Korea was officially established as a corporation.

 

Entering the 2000s, the company expanded its portfolio through successive mergers and acquisitions, including Aventis CropScience, Roche's OTC division, Schering Korea, MSD Consumer Care, and Monsanto.

 

These acquisitions solidified Bayer Korea's position as a leading global life sciences company with a broader and more advanced product lineup.

 

Bayer

As of February 2025, Bayer Korea holds a total of 62 pharmaceutical products, including prescription and over-the-counter (OTC) medications.

 

One of Bayer Korea's key products in recent years is Eylea (aflibercept), a treatment for age-related macular degeneration (AMD).

 

In 2023, Eylea is a blockbuster medication that generated KRW 96.8 billion in sales in South Korea.

 

However, the company faces increasing competition from next-generation therapies and biosimilars that challenge Eylea's market dominance.

 

Expanding sales growth remains one of Bayer Korea's concerns.

 

Based on the company report, Bayer's sales for the past four years amounted to ▲ KRW 332.6 billion in 2020 ▲ KRW 340.1 billion in 2021 ▲KRW 358.0 billion in 2022 ▲ KRW 347.6 billion in 2023.

 

Bayer Korea entered the Korean market in 1955 and its current corporation was established in 1989

Bayer in need of a new growth driver…prepares for a new generation of pharmaceuticals As the pharmaceutical landscape continues to evolve rapidly, Bayer has been transitioning into a more agile organization since last year to adapt to environmental changes quickly.

 

An agile organization breaks down departmental barriers, forming multifunctional teams integrating marketing·sales·operations within the same division.

 

This structure enables greater flexibility and responsiveness to meet the demands of a fast-changing market environment.

 

A Bayer Korea representative said, "Bayer Korea has been focusing on strengthening the foundation for collaboration among employees to build a better future together." One of the most significant changes for Bayer Korea is the appointment of JinA Lee as the company’s first Korean CEO since its entry into the Korean market.

 

Lee's appointment highlights the increasing importance of the Korean market and its strong R&D ecosystem, including early- and late-stage clinical trials and real-world data (RWD) studies.

 

Bayer Korea

A notable achievement under Lee's leadership is Kerendia, ranked second in outpatient prescription sales among products that received reimbursement in 2024, making a strong debut in its first year as a reimbursed drug.

 

Additionally, high-dose Eylea (8mg), which extends dosing intervals to 20 weeks, entered the reimbursement list earlier than expected in October last year, helping Bayer maintain its influence in the retinal disease market.

 

Also, Verquvo, a heart failure treatment, is established as part of a new generation of therapies, securing Bayer's future growth.

 

This year, Bayer Korea plans to address unmet medical needs in the Korean market and improve patient access to innovative drugs, such as Nubeqa, which has strong market potential.

 

A Bayer Korea representative stated, "In the healthcare sector, Bayer is committed to delivering innovative products and services through research and development that spans disease diagnosis to prevention and treatment.

 

We are strengthening our expertise in cardiovascular, renal, and oncology treatments while expanding into new therapeutic areas with novel treatment options to ensure continuous growth." Bayer Korea aims for the next leap, focusing on 'sustainable mangagement' Bayer Korea, as it celebrates its 70th anniversary, focuses on 'sustainability' for long-term success.

 

In addition to corporate social responsibility activities, the company is committed to sustainable organizational growth, driven by employee-led campaigns.

 

According to Bayer Korea’s report released in December, the company is actively engaged in activities aligned with its four sustainable development goals: ▲Ending hunger ▲Healthcare ▲Climate change response ▲Gender equality and diversity.

 

For instance, the company pursues hunger relief efforts through a partnership with World Vision, supporting underprivileged children through the "Love Lunchbox" volunteer program.

 

This initiative has been expanded into a year-long challenge, where a team of seven employees participates monthly in preparing meal ingredients, cooking, packaging, and cleaning up.

 

Bayer Korea

Additionally, volunteer activities such as an art contest for individuals with developmental disabilities, the Unity Marathon with visually impaired participants, and the Proper Disposal of Expired Medicines Campaign were conducted last year.

 

Lee stated, "Bayer Korea's sustainability report holds the greatest significance not in the scale of its outcomes but in our employees' voluntary and active participation.

 

Through this initiative, we have collectively shared Bayer's vision and goals across the company, systematically organized our achievements, and laid the groundwork for developing more advanced strategies in the future." Lee added, "Bayer Korea is undergoing a transitional phase as we introduce a new generation of pipeline products.

 

We aim to successfully establish these new treatments in the market to improve patients' lives while building a strong foundation to develop further innovative therapies."