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Bayer Corporation (also known as Bayer USA) is the American subsidiary of Bayer AG. Its main offices are located in Whippany, New Jersey . In addition it has 40 fully consolidated subsidiary companies [ 3 ] located in 19 different states.
Bayer AG (English: / ˈ b aɪ. ər /, commonly pronounced / ˈ b eɪ ər /; [3] German:) is a German multinational pharmaceutical and biotechnology company and is one of the largest pharmaceutical companies and biomedical companies in the world.
A top Bayer pharmaceutical executive said on Wednesday his group will continue slashing managerial jobs this year, planning cuts in Germany, Japan, the United Kingdom, Belgium and the Netherlands ...
The selection process had begun in mid-2022 and by April 2023, he became a member of the Board of Management of Bayer AG. [11] He is the second foreigner to lead Bayer after Marijn Dekkers, and he is the second CEO in Bayer's history to be hired from outside the company after Dekkers. [7]
Losses for Bayer investors reach tens of billions of Euros just two years after the acquisition. His position as CEO of Bayer was renewed in 2020 until 2024 before the general meeting of shareholders in 2021. [10] [11] [12] By 2023, Bayer investor DekaBank called for Baumann to be replaced ahead of his scheduled departure. [13]
Bayer responded with a white knight bid and in July acquired the majority of shares of Schering for €14.6bn, [13] and in 2007, Bayer took over Schering AG and formed Bayer Schering Pharma. The acquisition of Schering was the largest take-over in Bayer's history, [ 12 ] : 49–52 [ 14 ] and as of 2015 this was one of the ten biggest pharma ...