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Bayer plans to focus entirely on Life Science businesses
Sep. 19, 2014
Bayer intends in the future to focus entirely on the Life Science businesses – HealthCare and CropScience – and float MaterialScience on the stock market as a separate company. In this way Bayer is positioning itself as a world-leading company in the field of human, animal and plant health. The Supervisory Board unanimously has already approved the Board of Management's plans on Thursday. “Our intention is to create two top global corporations: Bayer as a world-class innovation company in the Life Science businesses, and MaterialScience as a leading player in polymers,” Bayer CEO Dr. Marijn Dekkers announced. He said both companies have excellent prospects for success in their respective industries.
In recent years, Bayer's center of gravity has greatly shifted toward its Life Science activities with the successful launch of novel pharmaceutical products, the pending acquisition of the over-the-counter products business of Merck & Co., Inc., United States, and the very successful development of the CropScience business. The aim is to continue the positive development of these activities in the future through further investment in growth. Following its regular evaluation of the business portfolio, the Board of Management has therefore decided to focus the company on these areas. The Life Sciences currently already account for about 70 percent of Bayer's sales and 88 percent of EBITDA before special items.
Source: Bayer
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