HEALTH

Bayer to Join Race to Enter U.S. Generics Market: German chemical giant Bayer said it is likely to follow competitor Hoechst into the lucrative U.S. market for generic drugs. The company has talked to a number of generic drug makers in the United States with a view to buying a stake, but negotiations had not been concluded, Bayer spokesman Friedrich Gottschalk said. Analysts were certain Bayer would pay less than the $550 million Hoechst put up in October for a 51% stake in Copley Pharmaceutical, which was considered expensive at 87 times net profit. The generic drugs markets in both Germany and the United States are seen growing by over 10% next year, while the branded sector will expand at a slower 5% rate, analysts forecast.