Sector News

Bayer eyes new corporate structure by Jan 2016

February 13, 2015
Life sciences
(Reuters) – German healthcare group Bayer has started working on a new corporate set-up for the life-science businesses that will remain when its plastics division is split off, aiming for a new structure at the beginning of next year.
 
Employees were informed on Wednesday that a team had been set up to map out the new structure, which will not entail job cuts, a spokesman said on Thursday.
 
“We expect the number of jobs to be stable worldwide and in Germany over the next few years,” he added.
 
Bayer, whose products include cancer drugs, birth control pills, veterinary drugs, pesticides and transparent plastics, unveiled plans in September to list its plastics business on the stock market to focus on its more profitable life-science businesses.
 
It said at the time it was eyeing a spin-off or initial public offering of the MaterialScience unit within 12-18 months.
 
Its three main divisions HealthCare, CropScience and MaterialScience each have largely autonomous management teams but the company has recently stressed the synergies to be gained in the research into human, animal and plant health. (Reporting by Ludwig Burger; Editing by Mark Potter)

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 27, 2020

AbbVie lifts insider Jeffrey Stewart to commercial chief as company veteran Carlos Alban retires

Life sciences

AbbVie will soon have a new chief commercial officer, who’ll assume the heavy responsibility of navigating the Illinois pharma’s marketing transition from megablockbuster Humira.

November 27, 2020

Belgium biotech argenx nabs Bayer speedy review voucher for a cool $98M

Life sciences

The biotech, which has a series of deals across Big Pharma, will use the voucher, which can speed up the regulatory process for a new drug, for its late-stage drug efgartigimod—but not in the indication you might think.

November 27, 2020

Galapagos sells off Fidelta as CRO activities ‘no longer fit with its strategy’

Life sciences

Galapagos is selling off its contract research organization Fidelta for $37 million to Polish life science company Selvita. Fidelta focuses on inflammation, fibrosis and anti-infectives, with 181 employees at the helm.

Send this to a friend