San Francisco Mayor Gavin Newsom announced Monday that Bayer Healthcare will be establishing what it calls a "U.S. innovation center" at Mission Bay
Bayer is among the top 10 biotech and specialty pharmaceutical companies worldwide. Newsom says Bayer's decision to stay in the Bay Area is a testament to people who live here.
"When all things are said and done, the great differentiator is people, human capitol and the ability to track the best and the brightest," he said.
Bayer is the second-largest biotech company, based on number of employees, in the Bay Area.
The company says the innovation center will be home to a team of scientists working in targeted areas such as cardiology and oncology.