(Reuters) -Bayer said on Tuesday it was preparing market launches this year of two new drugs that could each have annual peak sales of at least $1 billion, as it seeks to strengthen its pharmaceuticals business amid a high debt burden.

In a statement, the German maker of drugs and agricultural supplies said it would bring Beyonttra, also known as acoramidis, to market to treat a condition that results in heart failure.

In "late summer" this year, it was eyeing the launch of menopause relief drug elinzanetant to ease hot flashes, it added.

It said both had blockbuster potential, an industry term for potential peak annual sales of at least $1 billion.