Bayer to invest $2.2 billion in new US pharma site

FRANKFURT, Oct 2 (Reuters) - Bayer's pharmaceuticals unit on Friday unveiled plans to invest $2.2 billion in a new ‌manufacturing site in New Albany, Ohio, part of ‌a push to boost the business's US revenue.

• Bayer expects to ​create about 600 high paying jobs in New Albany, with another 1,500 jobs resulting temporarily from construction.

• The prescription drug unit of Germany's Bayer has increased the ‌US share of global ⁠revenue to 35% from 20% in 2018 and it aims to double US sales ⁠by the end of the decade, said Sebastian Guth, chief operating officer for pharmaceuticals.

• Among the main products ​to underpin ​the expansion are Kerendia to ​treat chronic kidney disease, ‌prostate cancer drug Nubeqa as well as drug candidate asundexian to prevent strokes.

• US prescription medicine prices are far higher than in other developed nations, and President Donald Trump has been pressuring drugmakers to lower their prices, ‌while also demanding that other ​developed countries increase their prices.

• "It is ​a very deliberate ​decision to strengthen our presence in the ‌United States, alongside our historically ​strong presence in ​Europe and our strong presence in Asia," said Bayer Pharma's Guth.

• A drug substance manufacturing site is ​set to become ‌operational in 2031 with a site for finished ​drug product to follow in 2034.

(Reporting by Ludwig ​Burger, Editing by Friederike Heine)