Bayer: M&A sucks!

• While it seems that many biopharma shops are scaling back R&D departments in the wake of mergers and consolidation, Bayer is investing about $4.5 billion in R&D this year. In fact, the firm has 14,000 employees dedicated solely to research and development.
• Bayer's R&D spending represents about 8.5% of its revenues.
• Development costs for Xarelto (rivoroxaban), a blood thinner, were roughly $2.5 billion.

http://www.biopharmadive.com/news/bayer-beefs-up-rd-investment-to-45-billion-this-year/401079/