Bayer HealthCare acquires
German DIREVO Biotech AG A recognized leader in protein
engineering / Expanding technological know-how
in biologicals / Strengthening Bayer HealthCare's
commitment to develop innovative biologicals
Bayer HealthCare AG
acquires the German biotech company DIREVO Biotech AG, Cologne. With the acquisition of
the biotech company specialized in protein engineering, Bayer
strengthens the research competence in biologicals of its
pharmaceutical division Bayer Schering Pharma.The
industrial biotechnology business of DIREVO Biotech is not subject
to the transaction. Closing of the deal of a value of 210 million Euro is projected for end of September
2008.
DIREVO Biotech's unique
and proprietary protein engineering platform uses high throughput
technologies for the rapid discovery and optimization of
biopharmaceuticals.
The platform has already been successfully applied to a wide
range of proteins, including therapeutic antibodies and proteases
that will be added to the preclinical pipeline of Bayer Schering
Pharma.
DIREVO Announces Sale of
its Subsidiary DIREVO Industrial Biotechnology GmbH and Series A
Financing
DIREVO Biotech AG
announced today the sale of its fully owned subsidiary DIREVO
Industrial Biotechnology GmbH that was incorporated recently for
an undisclosed cash amount to a group of investors. In addition, the new company
completed a EUR 8 million financing in the form of Series A
Preferred Stock. The participating institutions included Bankhaus
Wölbern (Hamburg) and NRW Bank (Düsseldorf) as lead investors,
TVM-Capital (Munich), Danisco A/S (Copenhagen), a Sparkasse KölnBonn (Cologne) affiliated
private equity firm, Signet Healthcare (New York), Mulligan
BioCapital (Hamburg), several private investors, including Nobel
laureate Prof. Dr. Manfred Eigen, and management.
The company focuses on Food & Feed and Biorefinery
markets and
provides solutions through discovery, development and scale up of
enzymes and strains. It develops products both independently and
with global leaders such as Danisco/Genencor and Nestlé. For example, a collaboration
with Danisco A/S has yielded a significantly improved enzyme
which is marketed as part of a Danisco/Genencor product.
DIREVO Industrial Biotechnology GmbH
DIREVO Industrial Biotechnology GmbH was formed as a spin-out from
DIREVO's industrial biotechnology business unit and
AC Biotec GmbH.
AC
Biotec GmbH
In November 2007,
DIREVO acquired AC Biotec GmbH, Jülich, Germany, a provider of
bioprocess development and contract manufacturing services to
the industrial biotechnology and pharmaceutical markets.
Established in 2001, AC Biotec offers development,
optimization and application of fermentation and downstream
processes, using both microbial and plant cell-based systems.
This includes the complete scale-up of biotechnological
processes, ranging from multi-well plates and shake flasks up
to pilot-scale stirred-tank-reactors.
Bayer MaterialScience
expands global production network for polyurethane dispersions
Low-VOC raw materials for high-quality, environmentally friendly
formulations
Waterborne coating and
adhesive raw materials now also from Shanghai
Bayer MaterialScience has
opened a state-of-the-art production plant at the integrated
production site in Shanghai to manufacture polyurethane
dispersions (PUD). The plant has an annual capacity of 20,000
metric tons. Bayer MaterialScience now therefore has facilities
in North America, Europe and Asia for these key raw materials for
manufacturing environmentally friendly, waterborne coating
systems and adhesives.
The production of polyurethane dispersions in Shanghai reflects
in two respects the significant increase in environmental
awareness that has also recently become evident in China. The
products in question form an important basis for
manufacturing waterborne and thus low-emission paints, coatings
and adhesives for a variety of applications. These include metal, wood and
plastic coatings, adhesives for the footwear, furniture and
automotive industries, textile and leather coatings and glass
fiber sizing. The second ecological aspect concerns the new production
facility itself.
This sets standards through technology that is not only
innovative and robust but also environmentally friendly and
energy efficient.
Bayer significantly
strengthens its presence in China
Startup of 350,000 tons/year MDI train /
Groundbreaking for 250,000 tons/year TDI plant /
Isocyanate production also to be expanded in Europe in the medium
term
Bayer MaterialScience has
successfully started production at its new 350,000 tons/year
diphenylmethane diisocyanate (MDI) complex at the Bayer Integrated Site
Shanghai (BISS). The new world-scale plant is the largest MDI
facility of its kind in the world. Furthermore, the company has
now broken
ground for a 250,000 tons/year toluene diisocyanate (TDI) plant at BISS which is scheduled to come
on stream in 2010. structures,"explained Patrick Thomas.
Other production facilities for the Asian market
Just last month, the company started up its 20,000 tons/year
polyurethane dispersions plant, which is the first unit producing
waterborne polyurethane coating raw materials in China.
Waterborne coating systems use little or no solvent, thereby
reducing emissions of volatile organic compounds (VOCs) during
application.
The company has also
completed the construction of its second polycarbonate line,
doubling its capacity for the high-tech engineering plastic
Makrolon(R) to 200,000 tons/year. The inauguration of this second
production line will depend on how the market develops.
New TDI production plant planned for integrated site in Dormagen
Bayer MaterialScience also plans to extend its isocyanate
production significantly in the Europe, Middle East, Africa
(EMEA) region in order to meet rising demand there. A new
world-scale plant for TDI with an annual capacity of
300,000 tons is slated for construction at the Dormagen/Uerdingen
integrated site in Germany. It will replace the existing TDI
plants at the Dormagen and Brunsbuttel sites. MDI production at
Brunsbuttel will be expanded to a total capacity of 400,000
tons/year by making use of the existing capacity of 160,000
tons/year and the existing infrastructure, and by converting the
present TDI plant to an MDI facility. Given the right business
conditions, i.e. political acceptance and the availability of a
suitable infrastructure for raw materials and energy, the two
projects are scheduled to be completed by 2013 at a total
investment cost of about EUR 300 million.
US warns Bayer over
aspirins containing supplements
Two over-the-counter
Bayer AG aspirin products that contain dietary supplements have not been proven to
work and are
being
sold illegally,
U.S. health regulators warned on Tuesday.
Claims made about the products, Bayer Aspirin with
Heart Advantage
and Bayer
Women's Low Dose Aspirin + Calcium, also mislead consumers,
the U.S.
Food and Drug Administration said.
Bayer builds new chlorine
recycling plant for TDI production in Shanghai Cost leadership through
implementation of best available technologies / License agreement
with Sumitomo Chemical
Bayer MaterialScience
plans to build another chlorine recycling plant at the Bayer
Integrated Site Shanghai (BISS). The process for this new unit is
based on the catalytic oxidation of hydrogen
chloride using oxygen. The new technology has been
developed by the Japanese company Sumitomo Chemical Co., Ltd., and was licensed to Bayer
MaterialScience. The plant will ensure the chlorine supply of the
new
250,000 tons/year toluene diisocyanate (TDI) facility in Shanghai. Bayer
MaterialScience has now broken ground for this new plant, which
is based on the company's innovative gas phase phosgenation
process and is scheduled to come on stream in 2010.
The process will take hydrogen chloride co-produced during the
manufacture of isocyanates, and will convert it very efficiently
to chlorine which is re-used as raw material. During the past
years, Sumitomo Chemical has enhanced the process and proven its
technical viability in combination with already operating
manufacturing plants.
At BISS, Bayer MaterialScience has just started a new hydrochloric acid
electrolysis plant
to supply the 350,000 tons/year diphenylmethane diisocyanate
(MDI) train with chlorine. It uses the energy saving Oxygen
Depolarized Cathode technology, which has been developed by Bayer
and partners.
"By combining these two innovative technologies, we will
strengthen our cost leadership in the isocyanate production. We
will also be able to significantly reduce energy consumption and
by that contribute to climate protection,"adds Peter
Vanacker.
Bayer AG (Leverkusen,
Germany; www.bayer.com), through a partnership with UhdeNora, a joint venture between Uhde
(Dortmund, Germany; www.uhde.com) and de Nora SpA (Milan, Italy), and de Nora
North America, has launched a worldwide marketing campaign
for an electrochemical process that converts hydrochloric
acid, a byproduct of vinyl chloride monomer or isocyanate
production, to chlorine and water using 30% less electricity
than the conventional diaphragm electroreduction process.
Dubbed oxygen depolarized cathode
(ODC
酸素還元カソード) electrolysis, the process yields Cl^sub 2^
that is 99.9% pure and can be recycled directly without the
need for cleaning steps in between, says Fritz Gestermann,
manager of process development for electrolysis at Bayer
Material Science.
January 23, 2009 Xinhua
via COMTEX
Chlor-Alkali Chemical to
withdraw from JV with Bayer China
Shanghai Chlor-Alkali
Chemical Co., Ltd Friday announced that it planned to withdraw
its 10 percent interest in the Bayer (Shanghai) Polymer Co., Ltd.
Bayer (Shanghai) Polymer
Co., Ltd was co-founded by Bayer China Co., Ltd and Shanghai
Chlor-Alkali Chemical on Sept. 24, 2001 with 564.3 million US
dollars of total investment and 188.1 million US dollars of
registered capital.
Of the total investment,
169.29 million US dollars were invested by Bayer China and 18.81
million US dollars by Chlor-Alkali Chemical, taking 90 percent
and 10 percent, respectively.
Bayer Polymer has been
engaged in the production and sale of polycarbonate, bisphenol-a
and other polymer mixing materials.
The announcement showed
that by Sept. 30, 2008, the total assets of Bayer Polymer
amounted to 4,593.0163 million yuan, and its gross liabilities,
3,846.1686 million yuan, leaving owner's equity of 746.8477
million yuan.
Chlor-Alkali Chemical
will quote the 10-percent stake in Bayer Polymer on the Shanghai
United Assets Equity Exchange at a price higher than investment
cost.
The share transfer is
expected to improve cash flow of Chlor-Alkali Chemical, and
further help it cut financial cost.
Apr 15, 2009 SinoCast
Daily Business Beat
Chlor-Alkali
Chemical Sells 10% of Bayer Polymers (Shanghai)
Shanghai Chlor-Alkali Chemical Co., Ltd. has sold a 10% stake
in Bayer Polymers (Shanghai) Co., Ltd. for CNY 230 million to
Bayer MaterialScience AG.
Bayer builds world's
largest production plant for carbon nanotubes in Chempark
Leverkusen
Bayer MaterialScience has
begun work on the construction of a new facility for the production of
carbon nanotubes (CNTs) in Chempark Leverkusen. The new plant will have a
capacity of 200 tons/year, making it the largest of its kind
in the world. The company is to invest around EUR 22 million in
the planning, development and construction of the plant, which
will create 20 new jobs. "We are investing in a key
technology of the future that will open up a broad range of new
applications for us. We intend to utilize this opportunity to the
full. At the same time, the construction of the new CNT facility
is a declaration of faith in Leverkusen and the State of North
Rhine-Westphalia as an industrial location," said Dr.
Wolfgang Plischke, the member of the Bayer AG Board of Management
responsible for innovation, technology and the environment, at a
press conference to mark the start of construction. Current
forecasts predict that the global market for carbon nanotubes
will grow by 25 percent a year. In ten years, annual sales of
these products are expected to reach US-Dollar 2 billion.
Bayer Schering Pharma to
invest 100 million Euro in China to build a global R&D center
Bayer Schering Pharma AG,
the pharmaceutical division of Bayer HealthCare (BHC), announced
today that it will be strengthening its global Research and
Development (R&D) capabilities through the foundation of a global R&D
center in Beijing, China. The company will invest some 100 million
Euro over the next five years to establish the center. With the
establishment of the R&D center in China, especially Asian
patients will benefit from considering their clinical profile and
medical needs early-on.
Bayer MaterialScience
planning new world-scale TDI plant at Dormagen site EUR
150 million investment in the future / New
production process was developed in Dormagen / Energy
savings of up to 60 percent versus conventional plants
Bayer MaterialScience plans to invest roughly EUR 150 million in
a new high-tech production plant for TDI (toluene diisocyanate)
at Chempark Dormagen. TDI is a precursor for the production of
polyurethane flexible foam. The new plant will have a capacity of
300,000
tons per year
and will replace the existing plants in Dormagen and Brunsbuttel. The
background behind the project is the company's European-wide
optimization of isocyanate production. "This investment is a
clear commitment to North Rhine-Westphalia as an industrial
location. It is intended to strengthen Dormagen as a global TDI
technology center and to provide long-term security for the
competitiveness of Chempark Dormagen and the jobs at the plant
and in the region,"declares Dr. Tony Van Osselaer,
member of the Bayer MaterialScience Board of Management.
MDI production at Brunsbuttel will be
expanded to a total capacity of 400,000 tons/year by making
use of the existing capacity of 160,000 tons/year and the
existing infrastructure, and by converting the present TDI plant to
an MDI facility.
The innovative and
patented TDI process technology to be used in the planned
facility sets new standards worldwide for efficient and
climate-friendly TDI production. "The expertise that flowed
into our TDI process innovation originated in Dormagen, which is
a source of great pride to us here,"says Dieter Kuhne,
Head of TDI Production in Dormagen. "Our process enables us
to achieve energy savings of up to 60 percent
compared
with a conventional plant of the same size. Furthermore, the
technology requires up to 80 percent less solvent. These factors
contribute to a significantly better energy and environmental
balance,"adds Kuhne.
Start of the approval process
Bayer MaterialScience first presented plans to erect a new TDI
production plant in Dormagen in December 2008. The second phase
of the project is scheduled to begin in April 2010 with the
"scoping"hearing, to which the Cologne
regional government is invited as the regulatory authority.
Subject to political acceptance and approval being granted by the
authorities, the world-scale plant will be built on the site of
the coal-fired power plant, which will be torn down. The new TDI
production plant is currently scheduled to go on stream in 2014.
Dormagen will then be the sole Bayer MaterialScience site in
Europe for the production of TDI. Plans call for the production
of raw materials for polyurethane rigid foams to be expanded in
Brunsb・tel.
Chempark Dormagen offers ideal conditions
Chempark Dormagen was chosen as the site for the TDI plant in a
Europe-wide selection process, with the availability of raw
materials and precursors as well as the existing infrastructure
being key factors in the decision. The significantly greater
production capacity of the planned plant means that it will also
require correspondingly greater quantities of raw materials.
Whereas chlorine is already available in sufficient quantities in
Dormagen, a new reformer must be built to cover the increased
demand for carbon monoxide. The starting materials required for
this are also available in Dormagen. Furthermore, the hydrogen
produced as a byproduct of carbon monoxide production can also be
further processed directly on the site.
"We are very pleased that Bayer MaterialScience has chosen
Dormagen for this important investment. A plant of this size will
also bring with it a series of follow-up investments, thus
securing our competitiveness for the long-term,"says Dr. Walter
Leidinger, Head of Chempark Dormagen. The site offers the
infrastructure required for these investments.
From process innovation to large-scale production
TDI has been produced in Dormagen since 1964. "We have
decades of experience with the production of TDI,"notes Kuhne. The
new world-scale plant will use an innovative process technology
that has proved itself over the last six years in a Dormagen
pilot plant. The new TDI process - a quantum leap in terms of
energy efficiency, environmental compatibility and productivity ?
meets the most stringent safety standards. A large-scale plant
based on this process currently under construction in Caojing,
near Shanghai, China, is scheduled to go on stream in mid-2011.
TDI - a raw material with a future
TDI is an important precursor for the production of polyurethane
flexible foams. It is used to produce durable and high-quality
comfort products that have become integral parts of modern daily
life. Examples include sleep-friendly cold foam mattresses,
high-end chairs and seating, and back-friendly cushions for
office chairs and automobile seats, but also precision-fit
protective packaging, protective cushioning for microphones and
headphones and numerous other applications in the sports and
leisure segment. Bayer MaterialScience expects the demand for TDI
to continue to increase. With the efficient and sustainable TDI
process, Bayer MaterialScience hopes to further expand its
leading competitive position in this global market, which is
expected to experience long-term growth.
About Bayer MaterialScience:
With 2008 sales of EUR 9.7 billion, Bayer MaterialScience is
among the world's largest polymer companies. Business activities
are focused on the manufacture of high-tech polymer materials and
the development of innovative solutions for products used in many
areas of daily life. The main segments served are the automotive,
electrical and electronics, construction and sports and leisure
industries. Bayer MaterialScience has 30 production sites around
the globe and employed approximately 15,100 people at the end of
2008. Bayer MaterialScience is a Bayer Group company.
November 3, 2010
Bayer acquires Animal Health Company Bomac in New Zealand
Complementary portfolios with strong growth opportunities in
combining both businesses /
Creation of southern hemisphere hub to drive product innovation
Today, Bayer AG announced the acquisition of Auckland based Bomac Group; the parties signed a purchase
agreement. With this acquisition Bayer will strengthen its
worldwide Animal Health business with a special emphasis on
emerging markets in the southern hemisphere. Bomac has a broad
range of 290 products, especially in the area of food animals.
The main focus is on the treatment of mastitis 乳腺炎
with dairy cattle
and parasiticides 寄生虫駆除剤 in sheep. Bayer aims to benefit
also from Bomac's Research & Development expertise,
especially with respect to mastitis management and parasite
control. Due to confidentiality obligations, no financial
information is disclosed at this point in time.
Both companies regard the acquisition as a promising new phase in
their business development. The transaction represents a fit in
all important aspects of the businesses including product
portfolio and innovation pipeline.
It is planned to close the transaction upon receipt of the
necessary regulatory approvals, and begin combining the two
businesses thereafter. Due to the complementary nature of both
businesses, no major synergies are expected.
The transaction is seen as a win-win situation for both
companies. "The acquisition of Bomac gives us the
opportunity to capture local innovation and lever it across the
fastest growing markets in the world", says Dr. Alexander
Jahn, Head of Region International within Bayer Animal Health.
Connel McLaren, Managing Director of Bomac, also remarks on the
positive aspects of the acquisition: "We chose Bayer as the
perfect partner to help us take our innovation beyond
Asia/Pacific. Bayer shares our belief that New Zealand is an
ideal place to undertake new product development. Bayer's
commitment to expanding our research and development activity is
a great outcome for New Zealand."
Both companies also
have successful businesses in Australia and plan to further
expand their combined product offering across the Tasman.
About Bomac
Founded in 1958 Bomac is New Zealand's largest privately owned
dedicated animal health company.
Operating from modern GMP facilities in Auckland the company
manufactures over 290 production animal, equine and companion
animal products for sale in New Zealand and to over 60 countries
worldwide.
A significant commitment to R&D has seen Bomac average over
20 new product approvals per year in NZ since 2007. These include
innovative mastitis and reproduction products, injectable
solutions and suspensions, intra-ruminal devices, and sheep,
cattle and equine parasiticides.
This enviable track record of new products and delivery systems
has underpinned the company's continued growth as Bomac and its
200 staff in New Zealand and Australia strive to be "First
for Animal Health". www.bomac.co.nz.
November 18, 2010 Bayer
Bayer focuses resources
on growth and innovation
Major investment
necessary in development pipeline, marketing and emerging markets
/
Annual savings of EUR 800 million planned from 2013 /
Planned net reduction of about 2,000 jobs worldwide by the end of
2012
Bayer plans to invest its
resources even more systematically in growing the company and
enhancing its innovative capability. The focus will be on researching,
developing and marketing new products, particularly in HealthCare and
CropScience, and
on expanding activities in the emerging markets. This will require a high level
of investment in the coming years. However, sales and earnings
are under pressure from generic products, rising development
costs and the effects of health care reforms. "To finance
the expansion of our growth activities, we therefore need to redirect
resources, improve efficiencies and cut costs,"explained Bayer AG Management
Board Chairman Dr. Marijn Dekkers.
To raise investment in further growth, annual cost
savings of EUR 800 million are planned starting in 2013.
About half of this amount is to be reinvested. By the end of 2012
the company is likely to take one-time charges
in the region of EUR 1 billion, with part of this amount already
being incurred in the fourth quarter of 2010.
In connection with this program, it is planned to reduce the
global headcount of 108,700 by an aggregate of about 2,000 by 2012. Approximately 4,500 positions -
including roughly 1,700 in Germany - are to be cut, while some 2,500 new jobs
will be created
over the same period, particularly in the emerging markets.
"Bayer has great business potential in all three subgroups.
To better exploit this potential, we must continue to bundle
existing resources and streamline our structures. That is the
only way we can sustainably finance our investment in growth and
innovation ? for example in new pharmaceutical products, in our
BioScience business and in the expansion of our capacities in
Asia,"said Dekkers. "The cutbacks
involved will not be easy, but they are necessary. I am convinced
that with more innovation and less administration, Bayer can
become a better and faster company."
Bayer plans to
significantly expand capacities in China
Group sales in Greater
China planned to increase to around EUR 5 billion by 2015 /
New MaterialScience production plants to be constructed and
existing ones expanded /
Expansion of research and development activities /
Headquarters of the Polycarbonates Business Unit to move to
Shanghai
Bayer intends to
significantly expand its capacities for the production of
high-grade materials in China by 2016. Investments of
around EUR 1 billion
are planned at the Shanghai site. This means Bayer will focus
even more intensively on the Asia/Pacific region, where it
expects consistent growth in its customer industries. Capacities
for the polyurethane raw material MDI are to be more
than doubled to one million metric tons a year and for high-performance polycarbonate to
500,000 t/y.
The company also intends to significantly strengthen its research and
development activities there. Moreover, the headquarters
of the Polycarbonates Business Unit will be relocated from the main
Leverkusen site to Shanghai. The intention is to ensure even
greater proximity to the booming polycarbonates market in Asia.
"The
expansion of our capacities in China is an important step in
strengthening our presence in the emerging economies,"
explained Bayer AG's Management Board Chairman, Dr. Marijn
Dekkers. "We want to increase Group sales in
Greater China to around EUR 5 billion by 2015. MaterialScience is expected to contribute at
least half of this amount." In fiscal 2009, the Bayer Group
in Greater China recorded sales of EUR 2.1 billion, of which EUR 1.2 billion was
accounted for by MaterialScience.
"The strong economic growth in China and in the whole region
offers us outstanding opportunities, and we want to make the most
of them," added Patrick Thomas, CEO of Bayer
MaterialScience. "For us, it is strategically important to
have the necessary capacities in the Asia/Pacific region to meet
constantly rising demand."
Thomas emphasized that this was one of the biggest single
investments to date for Bayer MaterialScience. In terms of sales,
China is the second most important country in the world for the
Bayer subgroup. It is already investing EUR 2.1 billion in
Shanghai as part of a long-term project lasting until 2012.
Together with the now announced expansions, this means a total
investment of more than EUR 3 billion. For these new projects, a
memorandum of understanding has now been signed with the relevant
authorities.
Five production projects
Five separate projects are planned - in cooperation with Bayer
Technology Services - to increase production capacity at the
Shanghai Chemical Industry Park. For polycarbonate, a new facility is scheduled to
be built with a capacity of 200,000 metric tons a year. In
addition, it is planned to increase the capacity of the existing
plant by 100,000 to 300,000 t/y. The Asia/Pacific region
currently accounts for around 60 percent of the world's total
polycarbonate market, with the greatest demand coming from China.
The plastic is used predominantly in the automotive, electrical
and electronics, and construction industries.
In addition, Bayer wants to increase its capacities in Shanghai
for raw materials for the production of polyurethane rigid foam,
which is used, for example, to save energy throughout the cool
chain as an insulant. To this end, it plans to build a new MDI plant with an annual production
capacity of 500,000 tonnes. At the same time, the company also
intends to expand the capacity of its present MDI production
facility from 350,000 to 500,000 t/y.
A further part of this investment package is the expansion of HDI production. HDI is an important
starting product for high-quality surface coatings. There are
plans to expand the capacity of the existing HDI production to
meet short term market demand. The construction of a further
50,000-tonnes/year HDI production facility is also planned.
Only recently, Bayer MaterialScience announced the construction
of five customer support facilities in Shanghai and three other
Chinese cities. They will focus on customized production and
further processing. The company has earmarked a further EUR 110
million for this project.
With the expansion of its research and development center for polymers in Shanghai, Bayer
MaterialScience intends to strengthen its capability as a
provider of innovative solutions. It plans to concentrate on
areas in which China plays a leading global role, such as wind
turbines and solar energy plants. The other research and
development facilities in Europe and the United States will
continue to be dedicated to further promising areas of research
and to be part of the company's global R&D network.
New headquarters for polycarbonate activities
Furthermore, Shanghai will become the new headquarters of the
global polycarbonate activities of Bayer MaterialScience. The
management team headed by Dr. Günter Hilken will move there from
Leverkusen. The relocation is scheduled to begin next year. By
moving closer to its customers, Bayer MaterialScience is taking
account of the importance of the region for the global
polycarbonates market. The company expects this step to speed up
decision-making processes and to achieve more efficiency
generally in day-to-day work processes.
About Bayer MaterialScience:
With 2009 sales of EUR 7.5 billion, Bayer MaterialScience is
among the world's largest polymer companies. Business activities
are focused on the manufacture of high-tech polymer materials and
the development of innovative solutions for products used in many
areas of daily life. The main segments served are the automotive,
electrical and electronics, construction and the sports and
leisure industries. At the end of 2009, Bayer MaterialScience had
30 production sites and employed approximately 14,300 people
around the globe. Bayer MaterialScience is a Bayer Group company.
March 14, 2011 Bayer
Plans to expand MDI plant
Bayer MaterialScience to invest Euro 100 million in Germany
MDI
plant Brunsbüttel: rise of production capacity
to 420,000 metric tons a year
Bayer MaterialScience
plans to invest roughly Euro100 million in the expansion of the
high-tech production plant for MDI (diphenylmethane diisocyanate)
at the Bayer Brunsbüttel Industrial Park in Germany.
The project is part of the phased optimization
concept
announced previously for isocyanate production in Europe. The
first of the coordinated phases is the construction of a new
high-tech production plant for TDI (toluene diisocyanate) in Dormagen with an annual capacity of 300,000 metric
tons per
annum (tpa). The facility is scheduled to come on stream in 2014.
Somewhat later, the annual capacity of the existing MDI plant in
Brunsbüttel will be expanded from 200,000
metric tons to a total of 420,000 tpa. The TDI plant at the site will be
converted to MDI as part of this measure.
“This investment is a clear
commitment to the Brunsbüttel site. The planned world-scale
MDI production facility is intended to strengthen the site and to
provide long-term job security at the plant and in the region,”
says Dr. Tony Van
Osselaer, member of the Bayer MaterialScience Board of
Management.
Start of the permitting process
The responsible authorities are expected to initiate the first
step, what is known as the scoping process, in May 2011. The
plant is scheduled for commissioning in 2015/2016, depending on
the length of the permitting process and developments in the
market.
"The plastics industry expects global demand for MDI and TDI
to continue to rise," says Peter Vanacker, member of the
Executive Committee of Bayer MaterialScience and responsibe for
the Business Unit Polyurethanes. "With the phased
implementation of our optimization concept, we hope to further
expand our leading position in this global market, which is
expected to experience long-term growth."
MDI is the raw material for polyurethane rigid foam, which is
very effective when used for thermal insulation in buildings and
in the refrigeration train. The energy savings achieved help to
reduce CO2
emissions. In addition, applications in modern vehicle
construction provide for enhanced safety. Many national
regulations require the automotive industry to incorporate
specific safety features designed to reduce the risk of injury to
pedestrians in the event of an accident. MDI offers these
properties.
Bayer Brunsbüttel Industrial Park offers ideal
conditions
The Bayer Brunsbüttel Industrial Park was chosen
over other Bayer sites for the world-scale MDI plant, with the
availability of raw materials and precursors as well as the
existing infrastructure being key factors in the decision. The
significantly greater production capacity of the planned plant
means that it will also require greater quantities of raw
materials. A corresponding expansion of the existing MDA facility
as well as a new plant for aniline will ensure their supply.
“We
are very pleased that Bayer MaterialScience has chosen Brunsbüttel for this important
investment. A plant of this size ensures our competitiveness and
secures both jobs and training positions for the long-term,"
says Dr. Volker Weintritt, site and production manager of the
Brunsbüttel site.
From process innovation to large-scale production
MDI has been produced in Brunsbüttel since 1988. “We have extensive experience with
the production of MDI,” says Weintritt. Bayer
MaterialScience will deploy the latest technologies for this
project. The new aniline plant, for example, will use the same
adiabatic process used at a plant taken on stream in China in
2008. This process conserves resources and uses less energy than
other processes.
7 August 2011 guardian.co.uk
Bayer threatens to quit Germany over nuclear
shutdown
German companies may relocate production to countries with lower energy costs
Germany's decision to phase out nuclear power after the Fukushima catastrophe in
Japan could lead to some of the country's major companies relocating elsewhere
in search of cheaper energy.
Marijn Dekkers, head of Bayer, the pharmaceuticals group, said: "It is important
that we remain competitive compared with other countries. Otherwise, a global
company like Bayer will have to consider relocating its production to countries
with lower energy costs."
Under a package of energy bills passed last month by the German government, all
nuclear power facilities in the country will be taken offline by 2022.
Analysts
say that the move will hit energy companies hard and contribute to an increase
in electricity prices.
Dekkers told the business magazine WirtschaftsWoche that
Germany's electricity
costs were already the highest in the EU, making the country "unattractive" for
the chemicals industry.
Bayer, which developed the first aspirin in 1897, employs more than 35,000
people in Germany. Dekkers said that his company was planning 4,500 job cuts
worldwide – including 1,700 in Germany – but that it was already investing in
emerging markets.
"Overall, we will create over 2,500 new jobs in countries like Brazil, India,
Russia or China," he told WirtschaftsWoche.
The report also quoted Robert Hoffmann, head of the communications company 1&1,
saying that taxes to subsidise renewable energy sources were too high in
Germany. Hoffmann said that his company drew energy from Norwegian hydropower
plants, but that it still had to pay a contribution to German renewable energy
costs.
"Essentially, we're subsidising the construction of solar-powered roofs... So we
end up paying double," he said. Hoffmann said that his company was looking at
locations where "green electricity exists without the extra costs".
In a report released last week, the Swedish energy company Vattenfall attributed
a fall of 10.2bn Swedish krona (£1bn) in operating profit for the second quarter
of 2011 to "a one-off effect of the German parliament's decision to phase out
the country's nuclear power".
The move has also prompted concerns about disrupted power supplies. German
transmission systems operators have warned there could be a risk of power
outages this winter, and have questioned the reliability of renewable energy
sources, saying there is still a need for base power sources to ensure the
stability of the grid.
November 16, 2011 Bayer
Bayer plans further expansion in Asia
Sales in the region to grow to well over
EUR 11 billion by 2015 /
Some EUR 6 billion in sales expected in Greater China alone /
Plans to expand production, distribution network and research /
Further capital expenditures of EUR 1.8 billion in Asia by 2015 /
New TDI production facility dedicated in Shanghai
The Bayer Group plans to further expand its
production, distribution network and research activities in Asia and
considerably increase its sales in the region in the coming years. “We aim to
achieve a more than 60 percent increase in our sales in Asia by 2015,”
Management Board Chairman Dr. Marijn Dekkers said on Wednesday at Bayer’s
international press conference “Perspective on Growth in Asia,” held in
Shanghai, China. This would mean annual sales of well over EUR 11 billion by
2015 at today’s exchange rates. Of this figure, Greater China is planned to
account for some EUR 6 billion. Dekkers officially inaugurated a new production
facility for TDI – a raw material for the production of flexible foams – at the
Bayer Integrated Site Shanghai.
At the press conference, attended by more
than 100 media representatives – with journalists in India, Vietnam and
Indonesia participating via live video link – Dekkers explained the company’s
perspectives in the emerging countries of Asia. He said the Bayer Group already
does a significant proportion of its business in Asia. Twenty years ago, Asia
accounted for only about 10 percent of sales, equivalent to just over EUR 2
billion. Ten years ago, the proportion had grown to about 15 percent, and last
year the region already accounted for some 20 percent of sales. In the Asian
region, Bayer achieved sales of EUR 6.9 billion in 2010, including EUR 2.9
billion in Greater China, and anticipates further growth in Asia in 2011. “We
have made capital expenditures of EUR 3.4 billion in Asia over the past 10
years, creating a basis for outperforming market growth in this region,” said
Dekkers.
Bayer has laid a firm foundation for expansion. “Our country organizations here
have had local roots for many years, in fact we have been operating for more
than a century in China, India and Japan,” said Dekkers. “We are familiar with
the markets, and we know how to tune our approaches to the different conditions
prevailing in different markets in order to further expand our business.”
Megatrends particularly strong in the emerging Asian markets
Asia is a remarkable continent with particularly strong growth momentum, Dekkers
continued. He said the change processes resulting from global megatrends are
especially rapid and fundamental in the emerging markets. These megatrends
include rising life expectancy, which is greatly increasing the demand for
health care. “Products from Bayer HealthCare help to keep people healthy, cure
diseases and significantly improve the quality of life – also for elderly
people,” said Dekkers.
Another megatrend is the growth in the world population, which is expected to
increase by another 2 billion to 9 billion over the next 40 years. At the same
time, more and more agricultural land is being used for energy production. “Our
researchers at Bayer CropScience are helping to increase yields on the limited
amount of agricultural land available, and to reduce harvest losses,” Dekkers
pointed out.
According to Dekkers, humankind must also bring the megatrend of climate change
to a halt and start reversing it. Asia consumes more energy than North America
and Europe combined, he said. “Products from Bayer MaterialScience not only help
to save energy through high-performance thermal insulation in buildings or
lighter-weight materials in vehicles, they also improve the performance of wind
turbines, for example. And we take care to use energy-saving processes in the
manufacture of our products.”
Further investment in production, distribution, research and human resources
All the Asian countries are intended to play a part in achieving the sales
increase targeted for 2015. Apart from China, this applies particularly to
India, where sales are expected to grow from just over EUR 0.5 billion last year
to about EUR 1 billion. Sales in Japan are planned to rise from just under EUR 2
billion to around EUR 2.4 billion. To meet its targets, Bayer intends to improve
the availability of its products in Asia. “We already operate major production
facilities here and intend to go on expanding in the future,” said Dekkers. He
said Bayer will continue to expand its distribution network to serve the
subcenters and rural areas as well.
In addition, Bayer intends to participate in the region’s transition to an
innovation hub of the globalized world. Here the company is focusing on
collaborations with the leading institutes and centers of expertise, as well as
its own activities. “We will also continue to invest in local research and
development and thus contribute our know-how to the R&D landscape here. And in
doing so, we are taking account of Asia’s particular needs,” said Dekkers. That
applies, for example, to diseases that occur more frequently there than in other
parts of the world – such as liver cancer. Bayer also wants to improve access to
its new medicines in Asia by integrating Asian patients into the early stages of
global development programs, and plans to submit innovative medicines for
registration concurrently in Asia, Europe and the United States.
Bayer CropScience works with agricultural crops that are particularly important
in Asia, Dekkers explained. The subgroup’s focus is therefore on research and
development projects for crops such as oilseed rape/canola, rice, cotton,
soybeans, wheat and vegetables. Bayer MaterialScience not only supplies
industrial customers with locally manufactured polymer products, it also offers
the necessary technical advice and applications development know-how through its
systems houses.
To meet its growth targets in Asia, Bayer plans to develop the necessary
personnel resources, Dekkers continued. The company’s Asian workforce has
increased by nearly 8 percent in the past 12 months alone. “And we expect to see
a further rapid increase in employment in the coming years.” The number of
employees in Asia could increase from 23,700 in 2010 to more than 30,000 by
2015. Capital expenditures of some EUR 1.8 billion are also planned during this
period.
Bayer aiming for rapid growth in all subgroups in China
A major focus of Bayer’s activities is Greater China, now the company’s biggest
market in the region. In the first nine months of 2011, Bayer had some 11,000
employees in Greater China and sales of EUR 2.2 billion (RMB 19.8 billion),
which was 8 percent of Bayer Group sales. Bayer MaterialScience accounted for 59
percent, Bayer HealthCare for 37 percent and Bayer CropScience for approximately
4 percent of this figure. “We want all of our subgroups in China to continue
their rapid growth,” said Dekkers. Bayer plans to increase sales in Greater
China to about EUR 6 billion by 2015, with MaterialScience accounting for about
EUR 3 billion of this figure, HealthCare for EUR 2.5 billion and CropScience for
a good EUR 300 million.
Dekkers described the steady double-digit growth rates in the Chinese
pharmaceutical market as remarkable, pointing out that Bayer is one of the five
largest health care companies in China. Local sales of Bayer HealthCare in 2010
amounted to EUR 926 million (RMB 8.2 billion), with the prescription medicines
of the Pharmaceuticals Division accounting for 80 percent of this figure and
non-prescription medicines, medical devices and animal health products for 20
percent.
With a market share of nearly 5 percent and EUR 130 million (RMB 1.2 billion) in
sales, Bayer CropScience is the number three supplier in the Chinese crop
protection market. “Our aim is to be the supplier of choice in China’s most
important crops – especially rice and vegetables,” said Dekkers, adding that the
key to this lies in comprehensive solution packages – including innovative
products – that give effective support to farmers.
The Chinese market is of considerable importance for the MaterialScience
business. For example, China is the world’s biggest market for the construction
industry, for automobiles and railway vehicles, for the electrical and
electronics industry, and for shoe production. These industries are among the
principal customers of Bayer MaterialScience. Last year Bayer MaterialScience
had sales of EUR 1.8 billion (RMB 16.3 billion) in Greater China.
New TDI plant dedicated
On Wednesday, in the presence of numerous guests as well as high-ranking
politicians and officials, Dekkers inaugurated
a new TDI production facility with a planned capacity of 250,000 tons per year
at the Bayer Integrated Site Shanghai. The plant is based on a new
process technology that reduces solvent use by some 80 percent compared with
plants of a similar size that use the conventional process. It also lowers
energy consumption by up to 60 percent. The use of this technology also enables
substantial savings on operating costs and a reduction of roughly 60,000 tons
per year in carbon dioxide emissions. In addition, the new technology cuts the
investment costs for large-scale plants of this type by around 20 percent.
Second investment phase at the Shanghai production site
“We have been operating at the Shanghai Chemical Industry Park for ten years,”
the Bayer CEO remarked. Bayer MaterialScience has invested EUR 2.1 billion in
production facilities for all of its major products on this site. The company
intends to follow this first phase of investment with a second phase. Bayer
plans to spend a further EUR 1 billion to expand its MDI capacity to 1 million
tons per year, increase its polycarbonate capacity to 500,000 tons annually and
build a new HDI line that will raise annual capacity by 50,000 tons. “These are
considerable capital expenditures involving significant capacity expansions. It
goes without saying that we use the very latest technology in our facilities,”
Dekkers stressed.
October 30, 2012 Bayer
Bayer to acquire Schiff Nutrition
International for US$ 1.2 billion
Bayer HealthCare LLC has signed a merger
agreement to acquire Schiff Nutrition International, Inc.,
a leading company offering vitamins and nutritional
supplements in the United States and other countries. Schiff’s product
portfolio includes core brands MegaRed®, Move Free® and Airborne®, among others.
The transaction values Schiff at approx. US$1.2 billion
(approx. EUR 920 million) representing US$34 per share in cash. Closing is
subject to customary closing conditions and is expected by year end 2012.
“Bayer is committed to augment its organic growth with strategic bolt-on
acquisitions. This transaction represents an excellent strategic fit for our
HealthCare business,” said Dr. Marijn Dekkers, CEO of Bayer AG. “The Schiff
business significantly enhances our presence and position in the United States,
which accounts for more over-the-counter and nutritional products sales than any
other country in the world.”
“We will utilize our extensive marketing, sales and distribution expertise to
further develop the strong brands we are acquiring,” said Dr. Jörg Reinhardt,
CEO of Bayer HealthCare. “We will also look to leverage Schiff’s new technology
platforms with innovation potential for other Bayer-owned brands and markets
globally.”
Tarang P. Amin, President and CEO of Schiff, said, “Schiff has a 75 year
heritage of providing consumers with quality nutritional products. We are
focused on building premium brands and leading innovation. We believe Bayer is
well positioned to take our leading brands to the next level.”
Schiff generated net sales of US$259 million (approx. EUR 200 million) for its
fiscal year ended May 31, 2012. On September 18, 2012, Schiff publicly announced
that net sales for fiscal year 2013 were projected to grow between 43 and 46
percent. Expected sales growth includes contributions from new products and
brand building as well as Airborne®, which was acquired by Schiff on March 30,
2012.
The company employs approximately 400 people with its headquarters and
manufacturing site based in Salt Lake City, Utah, as well as offices in
Emeryville, California. The Schiff portfolio includes strong brands in three of
the largest health supplement segments including Joint Care (Move Free®),
Cardiovascular Health (MegaRed®) and Immune Support (Airborne®), among others.
These products complement Bayer’s existing OTC portfolio and will allow it to
provide consumers with a broad range of options in these key segments.
About Schiff Nutrition
Schiff Nutrition International, Inc. is a leading nutritional supplement company
offering vitamins, nutritional supplements and nutrition bars in the United
States and abroad. Schiff’s portfolio of well-known brands includes MegaRed®,
Move Free®, Airborne®, Tiger's Milk®, Digestive Advantage® and Schiff® Vitamins.
Focused on quality for 75 years, Schiff’s headquarters and award-winning
manufacturing and distribution facility are based in Salt Lake City, Utah. To
learn more about Schiff, please visit the web site
www.schiffnutrition.com.
2012/11/16 Reckitt Benckiser
Reckitt Benckiser commences all-cash tender offer of $42 per share to
acquire all outstanding shares of Schiff Nutrition
Reckitt Benckiser Group PLC today
announced it has commenced its previously announced tender offer to acquire
all of the outstanding shares of Schiff Nutrition International, Inc., a
leading provider of branded vitamins, nutrition supplements and nutrition
bars in the United States and elsewhere, for $42.00 per share in cash, or
approximately $1.4 billion.
About Reckitt Benckiser
Reckitt Benckiser (RB) is a global consumer goods leader in health, hygiene
and home, listed on the London Stock Exchange
(LSE). With a purpose of delivering innovative solutions for healthier lives
and happier homes, RB is in the top 25 of companies listed on the LSE. Since
2000 net revenues have more than doubled and the market cap has quadrupled.
Today it is the global No 1 or No 2 in the majority of its fast-growing
categories, driven by an exceptional rate of innovation. Its health, hygiene
and home portfolio is led by 19 global Powerbrands including Nurofen,
Strepsils Gaviscon, Mucinex, Durex, Scholl, Lysol, Dettol, Clearasil, Veet,
Harpic, Bang, Mortein, Finish, Vanish, Woolite, Calgon, Airwick, and
French’s, and they account for 70% of net revenue.
RB people and its culture are at the heart of the company’s success. They
have an intense drive for achievement and a desire to outperform wherever
they focus, including in CSR where the company has reduced its carbon
footprint by 20% in 5 years and is now targeting to deliver a 1/3 reduction
in water use, 1/3 further reduction in carbon and have 1/3 of its net
revenue coming from more sustainable products by 2020. It is also the Save
the Children charity’s largest FMCG global partner.
The company has operations in over 60 countries, with headquarters in the
UK, Singapore, Dubai and Amsterdam, and sales in almost 200 countries. The
Company employs approximately 32,000 people worldwide.
Reckitt Benckiser Group offered to buy Schiff Nutrition International Inc.
for $1.4 billion, weeks after the vitamin maker's main shareholders agreed
to a lower-priced buyout bid from Bayer AG.
Reckitt Benckiser's all-cash offer values Schiff's shares at $42, a 23%
premium to the vitamin and supplement company's Thursday closing price.
Schiff's shares jumped 28% after hours to $43.52.
Reckitt Benckiser's offer is also 24% higher than the $34-a-share deal
proposed by German pharmaceutical and chemical company Bayer at the end of
October. Bayer said it intended to bolster its U.S. consumer-health
operations with the acquisition.
Schiff's two main shareholders, who hold a combined
85% of voting rights in the company, accepted
Bayer's bid, triggering a squeeze-out of the minority shareholders
under U.S. law, Bayer Chief Financial Officer Werner Baumann has said.
Reckitt Benckiser Chief Executive Rakesh Kapoor said in an interview that he
is confident that Schiff's board will recognize that the latest offer is
superior and that a deal can be closed quickly.
"We believe we have made a very competitive offer," Mr. Kapoor said Friday.
Mr. Kapoor said Thursday that acquiring Schiff would provide a powerful
entry into the growing global vitamins, minerals and supplements market,
with "immediate scale" in the U.S. He valued the sector, which has been
growing in size and competitiveness, at $30 billion.
The U.K.-based maker of Air Wick air freshener and Nurofen pain-relief
tablets recently reported strong earnings, boosted by improving performance
in Europe and North America, where it generates over half its sales, and
growth in emerging markets across Asia-Pacific and Latin America. It wants
the majority of its sales to come from developing economies, excluding food
and pharmaceuticals, by 2016. It is moving away from household categories to
concentrate on driving sales of higher-margin health and hygiene products.
Mr. Kapoor said the company hopes to grow Schiff in the same way that it has
expanded other brands it has bought. "We hope that we can do great things
with Schiff," he said.
Schiff generates 95% of its revenue in the U.S., selling popular brands such
as MegaRed, Airborne and Move Free in the heart, immunity and joint care
categories. The Salt Lake City-based group is just outside the top 10
players in the $22 billion U.S. vitamins and dietary supplements market,
according to Bernstein data. It expects to generate sales of roughly $385
million for the fiscal year ending May 31, 2013.
Reckitt Benckiser bought U.S. drug maker Adams
Respiratory Therapeutics, maker of Mucinex, in 2008. The Mucinex
brand has since expanded and added cold and flu liquids, though it faced a
setback earlier this year when a federal court ruling paved the way for a
competitor, Perrigo Co., to launch a generic version of the treatment.
Reckitt has a solid track record for acquisitions in the consumer health and
over-the-counter markets, said Deutsche Bank analyst Harold Thompson. "The
growth and margin improvement which have been promised with each deal have
always come through and more."
Bernstein Securities analyst Andrew Wood said Reckitt's play for Schiff has
logic and could even merit a higher bid should a bidding war ensue.
"We believe this acquisition makes excellent strategic sense and good
financial sense," and could trigger a counter-bid from Bayer, he said.
Other large consumer players, such as Johnson & Johnson, may also show
interest, Mr. Wood said.
Bayer and Johnson & Johnson weren't immediately available to comment.
November 30, 2012 Bayer
150 years of Bayer: Success through
innovation and change
The Bayer Group will be celebrating its 150th anniversary in 2013 with numerous
events around the world. "Bayer can look back on a long and highly successful
history as an inventor company," explains CEO Dr. Marijn Dekkers. "What started
as a small but innovative dyestuffs factory in the Barmen district of Wuppertal
is now a global enterprise with more than 110,000 employees. In the past 150
years, Bayer inventions have time and again helped improve people's quality of
life. This great tradition is also our commitment to the future - entirely in
line with our mission of Bayer: Science For A Better Life." To mark the
anniversary, Bayer is planning a series of events and projects worldwide
throughout the coming year. These will focus on the company’s employees and
their families - but neighbors, customers, partners and the scientific community
are also to be included in the celebrations.
The general partnership "Friedr. Bayer et
comp." was founded on August 1, 1863 in Barmen
- now a district of the city of Wuppertal (ライン川の支流、ヴッパー川沿いに位置する工業都市)-
by dye salesman Friedrich Bayer (1825-1880) and master dyer Johann Friedrich
Weskott (1821-1876). The object of the company was the manufacture and sale
of synthetic dyestuffs.
The production of these dyes from coal-tar derivatives had only been
invented a few years previously, opening up a new field of business for the
still-young chemical industry. Its market was the textile industry, which at
the time was growing rapidly in the wake of industrialization. The natural
dyes that had been used until then were scarce and expensive. New
inventions, such as the synthesis of the red dye alizarin, and the strong
demand for tar dyes led to a boom in new foundings. Many dye factories were
built at this time, but only innovative companies with their own research
facilities and the ability to exploit opportunities on the international
market managed to survive over the long term. Bayer was one of these
companies.
A joint stock company is established
The financial foundation for expansion was laid in 1881, when Bayer was
transformed into a joint stock company called "Farbenfabriken vorm. Friedr.
Bayer & Co." The company's impressive growth in its early years is evident
from the size of the workforce, which grew from three in 1863 to more than
300 in 1881.
"Bayer products have become indispensable to
our lives," says Dekkers. One example is the pain reliever
Aspirin™, which came on the market in 1899 and remains one of Bayer's top
products to this day. Over the decades, Bayer's researchers have developed
pioneering active substances to treat infectious, tropical and cardiovascular
diseases, for example. Today, pharmaceuticals research at
Bayer HealthCare concentrates mainly on the fields of cardiology and
hematology, oncology, women’s healthcare and diagnostic imaging.
A further focal point of Bayer research is agriculture.
When Bayer started selling Antinonnin, the world's
first synthetic insecticide to control the nun mothノンネマイマイ,
in 1892, it was the start of a success story. Today, Bayer
CropScience is a global leader in its field. This success is based on
innovations - not only chemical and biological crop protection products that
offer sustainable solutions, but also high-quality seed. Added to this is a
broad range of products and services for home and garden and forestry
applications.
In the area of high-performance materials, the
polyurethanes for foams discovered in the 1930s and the high-performance
polycarbonate (Makrolon™) that was patented in 1953
form the basis for an ever-expanding range of applications. Today,
high-performance materials from Bayer MaterialScience
make an important contribution to conserving fossil resources. Polyurethanes,
for example, are used to insulate buildings and thus reduce the amount of energy
used in heating or cooling. Lightweight materials help make cars lighter,
thereby cutting their fuel consumption. It is thanks to the invention of
aliphatic polyurethane coatings that assets can be preserved for longer than
ever before. Modern coating systems can withstand both wind and weather and put
a shine on cars, ships, rail vehicles and wind turbines.
150 years of ongoing change and renewal
150 years of Bayer - an anniversary like this instantly calls to mind words such
as tradition and continuity, according to Dekkers. However, Bayer can actually
look back on 150 years of ongoing change and renewal. "A company cannot exist in
the long term without changing and adapting," emphasizes Bayer's CEO.
The company was founded as "Friedr. Bayer et comp." on
August 1, 1863 by business-man Friedrich Bayer and dyer Johann Friedrich
Weskott in the Barmen district of Wuppertal. Bayer initially produced synthetic
dyestuffs but the range of products grew significantly over the years. In 1881,
the company was made a joint stock corporation - "Farbenfabriken vorm. Friedr.
Bayer & Co." - and developed into an international chemical company. In the
course of expansion, Bayer relocated its headquarters to
Leverkusen in 1912. Following the First World War, in 1925, the company
became part of the I.G. Farbenindustrie AG
conglomerate. It was re-established as an independent company named "Farbenfabriken
Bayer AG" in 1951.
The pace of change picked up significantly following Bayer's 125th anniversary
in 1988. The company shifted its focus more towards its core activities,
resulting in the sale of subsidiary Agfa in 1999.
In 2005, Bayer then spun off significant parts of its traditional chemicals
business under the name Lanxess. At the same time,
the health care and agriculture businesses - referred to as the life sciences -
were systematically expanded, especially with the acquisitions of
Aventis CropScience (2001) and Schering AG, Berlin,
Germany (2006). "Thanks to our innovative strength and our ability to
adapt constantly to market changes, Bayer now holds leadership positions in all
its business areas," says Dekkers. The spirit of inventiveness and the will to
succeed form the bridge spanning the company's history from its origins 150
years ago to today.
Celebrating with employees, neighbors, partners, customers and the scientific
community
"All of that is reason enough to celebrate this anniversary in a befitting way,"
says Michael Schade, Head of Corporate Communications. Bayer is planning a whole
series of events next year. These will focus on its more than 110,000 employees
all over the world. Celebration events are also planned for the company’s
neighbors, customers and partners and a symposium is to be held for the
scientific community in the fall.
In the area of corporate social responsibility, too, Bayer will set a new signal
to mark its anniversary. Each year, the company supports some 30 volunteering
projects involving its employees and retirees in Germany. In 2013, this support
is to be expanded significantly and will also be offered worldwide.
"It goes without saying that we want to use our anniversary to make the Bayer
name even better known across the world," continues Schade. One of the projects
being prepared is a traveling exhibition that will visualize topics related to
health care, agriculture and high-performance materials. This exhibition is
scheduled to visit more than 20 sites throughout the world. A further highlight
will be an airship displaying the Bayer Cross that will travel to all continents
during 2013. Various publications are also being prepared. These will provide
detailed and sometimes surprising insights into the inventor company. "We've got
a lot planned for the coming year but we don't want to reveal everything just
yet," says Schade. The company will publicize details about the planned
activities next year.
Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the fields of health
care, agriculture and high-tech materials. As an inventor company, it sets
trends in research-intensive areas. Bayer’s products and services are designed
to benefit people and improve the quality of life. At the same time, the Group
aims to create value through innovation, growth and high earning power. Bayer is
committed to the principles of sustainable development and acts as a socially
and ethically responsible corporate citizen. In fiscal 2011, the Group employed
about 112,000 people and had sales of €36.5 billion. Capital expenditures
amounted to €1.7 billion, R&D expenses to €2.9 billion.
Bayer gets the green light to build and operate the new world-scale TDI plant in
Dormagen
Following a detailed appraisal, the
Cologne district authority has granted Bayer
MaterialScience the permit to build and operate the new high-tech facility for
the production of the chemical TDI (toluene
diisocyanate) at Chempark Dormagen. TDI is needed as a precursor for the
manufacture of flexible polyurethane foams to make products such as high-quality
foams for mattresses, chairs and car seats.
The Polyurethanes Business
Unit is the largest in Bayer MaterialScience and accounts for
around 50 % of the company’s sales. With about 4.900 employees
around the world and 2011 sales of around 5.435 billion €, the
Polyurethanes Business Unit leads the global PU industry.
“We are delighted that the approval process
has been successfully completed and we can press ahead with our construction
work as planned,” says Dr. Joachim Wolff, who is the member of Bayer
MaterialScience’s Executive Committee responsible for the Polyurethanes Business
Unit. “This innovative high-tech process marks the start of safe and
eco-friendly world-scale polyurethane production that makes the best possible
use of energy and resources. Compared with a conventional plant with the same
capacity, the new facility will reduce energy consumption by up to 60 percent
and require as much as 80 percent less solvent. This will also give us a
decisive competitive edge,” he adds.
With an annual capacity of 300,000 metric tons, the
future world-scale plant is a key part of a long-term investment strategy at
Bayer MaterialScience to turn its Dormagen site into a global technology center
for the development and production of polyurethanes. The employees who will be
working at the new TDI facility started their training last spring. They include
15 new employees who are working alongside staff at the current pilot plant and
receiving intensive instruction.
Construction progress on schedule
The approval authorities gave the go-ahead for the provisional start of
construction in February 2012. Since then, work at the giant construction site
has been progressing in leaps and bounds. In November, for example, the
construction team reached a key milestone when the TDI plant’s 90.5 metric ton
distillation column – a cylindrical steel structure – arrived at Chempark by
truck. “If progress on site continues at this pace, there is nothing standing in
the way of us completing and commissioning the plant midway through 2014,” says
Dr. Steffen Kühling, who is in charge of production and technology in the
Polyurethanes Business Unit.
Site’s long-term future secure
The construction phase of the project will create between 500 and 1,500
additional jobs. Many contractors come from the region, such as the piping
planning firm Keynes from Neuss and equipment manufacturers Quast and
Dormagen-based APL. Later on, when the facility is up and running, companies
from Dormagen and the surrounding area will be involved in maintenance,
construction and repair work, plus the provision of technical services in the
area around the new plant. The project also safeguards existing upstream and
logistics jobs at the site. The same applies to numerous additional jobs
associated with TDI production in the value-added chain in North
Rhine-Westphalia and Germany.
Detailed notification of approval
When providing notification of approval, the authorities give a detailed
explanation of the reasons that led to their decision. The process involves
examining the prerequisites for approval, summarizing and evaluating the
environmental impact assessment and, last but not least, evaluating the safety
concept. Any objections raised are also taken into account. The authorities
granted the permit for the project following a detailed appraisal of all aspects
involved and based on the documentation submitted.
Comprehensive information for all interested parties
From the start of the TDI project, Bayer MaterialScience has ensured intensive
dialogue with the local community and stakeholders. All local residents,
environmental associations, organizations, authorities and political
representatives can still benefit from open dialogue with the company about the
project.
July 25, 2013 Bayer
Bayer to use CO2 commercially as a new raw
material
Greenhouse gas for production of high-quality plastics / Process offers
ecological and economic advantages / Successful two-year test phase
Following a successful test phase, Bayer is aiming to commercialize the use of
the greenhouse gas carbon dioxide as a new raw material for plastics. The
company has started the planning process for the construction of a production
facility at its site in Dormagen, Germany, where CO2 will be used to produce
a precursor for high-quality foam. The objective is
to initially make larger quantities of this precursor available to selected
processors from 2015.
The use of carbon dioxide benefits the environment. CO2 replaces a portion of
the fossil raw materials, such as petroleum, that would otherwise be used
exclusively. At the same time, Bayer expects the new process to provide economic
advantages over the conventional production method.
Waste gas turning into profitable raw material
“CO2 is taking on a new light: The waste gas is turning into a useful and
profitable raw material. That makes us one of the first companies worldwide to
take an entirely different approach to the production of high-quality foams,”
says Patrick Thomas, CEO of Bayer MaterialScience.
The materials manufacturer collaborated with partners from industry and academia
to develop the process, which has been tested intensively over the last two
years. As part of the publicly funded research project “Dream Production”, a
pilot plant at Bayer’s main site in Leverkusen produced smaller quantities of
the precursor polyol, in which the CO2 is
chemically bound.
The substance is used for the production of
polyurethane foam. This high-quality material can be found in many everyday
items, including upholstered furniture, automotive parts, refrigeration
equipment and insulation material for buildings. In internal tests, the new
foams show at least the same high quality as conventional material based
entirely on fossil fuels.
Mattresses made with CO2
“After successfully completing the test phase, we are now launching Stage 2 with
the target of commercialization,” says Thomas. The first use of the new
CO2-based flexible foam will be for the production of mattresses.
The planned production facility in Dormagen will
have a capacity of several thousand metric tons.
“This will not be enough to accommodate the market demand, of course. It is
Bayer’s patent-registered technology and we have not yet decided to be the
exclusive producer of this innovative polyol. Licensing might also be a
possibility,” adds Thomas.
More than 30 billion tons of CO2 are released
into the atmosphere every year. But this greenhouse gas need no longer be just a
climate-damaging waste product. Researchers headed by Bayer have found a way to
use carbon dioxide as a building block for premium plastics.
Christoph Gürtler carefully pours out a thick, crystal-clear liquid and tips a
yellow chemical into it. Then he adds just a little water to the beaker, a
couple drops of accelerant and gives it all a good stir. After a few seconds, a
green mass rises to the top. It overflows slightly, then hardens: The experiment
is a success!
“This is a common foam,” Gürtler says. “We’ve now made ground-breaking progress
with the help of a new ingredient,” says the Bayer researcher, holding up the
glass containing the clear substance. “There is an entirely new raw material in
here: carbon dioxide.”
Until now, polyurethane foam of this kind – like most things in the chemical
industry – has been manufactured differently, namely using fossil resources:
petroleum, natural gas, coal, biomass. These four substances are the starting
point for some 40 basic chemicals and more than 40,000 chemical products. But
they have disadvantages: Supplies are limited, they are getting increasingly
expensive and they consume a lot of energy when treated in refineries.
Substitute for petroleum
But CO2 is another story. It is virtually ubiquitous and available in unlimited
quantities. Like oil, it incorporates the important element carbon, on which the
entire field of chemistry depends. In other words, this climate-killer has what
it takes to be useful, and Bayer MaterialScience is working on a number of
projects with partners in industry and academia.
The Dream Production research initiative has made the most progress. It is the
proof that incorporating CO2 is not only possible in the lab, but also on an
industrial scale. The carbon dioxide comes from a power
plant near Cologne, Germany, operated by energy company RWE. There it is
removed from the flue gas and liquefied for transportation.
In a pilot plant in nearby Leverkusen, Bayer MaterialScience has been using the
carbon dioxide since early 2011 to manufacture samples of the
polyurethane component polyol. The test foams made
from this substance are just as good as those produced the conventional way
using only petroleum.
“This new process was made possible by a scientific breakthrough,” explains
project manager Christoph Gürtler. “We finally succeeded in finding the
right catalyst after the scientific community spent
decades searching for it.” A catalyst is required to set the reaction in motion.
In other words, the CO₂ has to be given a nudge, because it is chemically inert
and does not react readily on its own with other substances.
Sustainable process
The catalyst also limits the energy consumed by the reaction. As a result, the
entire process is ecologically sustainable, as demonstrated by a complex study
conducted by RWTH Aachen University, another partner on the project. “Our
calculations indicate that the new process requires less energy in its life
cycle and thus also emits less CO₂,” explains Professor André Bardow of the
Institute of Technical Thermodynamics.
If the new process continues to produce good results, Bayer intends to start
industrial production in 2015. The first end product to be launched on the
market will be mattresses made from CO₂-based flexible foam. Subsequently, other
types of polyurethane are also to be manufactured by this method.
“Large segments of the industry are already showing significant interest in the
innovative material,” says Frank Grunert, head of Polyurethane Marketing at
Bayer MaterialScience. Bayer is now looking for partners along the value-added
chain to the consumer as the project moves to market maturity.
And research continues as well, for instance in another project called CO₂RRECT
that reaches far into the future. It focuses on combining carbon dioxide and
renewable energies, or more specifically excess electricity from wind turbines,
for which storage capacities are insufficient. The energy can, however, be
stored chemically in the form of hydrogen. An electrolysis process, run on this
excess energy, produces the hydrogen.
Wind power and carbon dioxide
But the project partners headed by Bayer MaterialScience envision much more:
They want to combine hydrogen with power plant CO₂ to obtain chemical
intermediates, which could be used in turn to produce polyurethane or the
performance plastic polycarbonate.
“Our ultimate goal is to manufacture a broad range of plastics from CO₂,
including not only coatings and fibers,” says Gürtler, “but also plastics made
entirely of alternative raw materials. The first products containing no
petroleum at all – that’s our vision.”
February 27, 2014
Bayer to acquire Dihon Pharmaceutical Group
Co., Ltd. in China
Transaction strengthens Consumer Care
business and moves Bayer HealthCare to a leading OTC position in key growth
country
Bayer plans to acquire 100
percent of the shares of Dihon
Pharmaceutical Group Co., Ltd.滇虹藥業集團,
Kunming Yunnan,雲南省昆明市
China, a privately held pharmaceutical company specializing
primarily in over-the-counter (OTC)
and herbal traditional Chinese
medicine (TCM) products. Dihon is a leading player in
China's OTC industry with products such as Kang Wang® for
the treatment of dandruff ふけand other scalp disorders and Pi
Kang Wang®, an antifungal 抗菌cream,
as well as TCM 漢方薬 product Dan E Fu Kang® for the treatment
of various women’s health indications. Financial details
have not been disclosed. The transaction is subject to
fulfillment of certain conditions, including merger control
clearance, and is expected to close in the second half of
2014.
“We aim to strengthen our Life Sciences portfolio with
strategic bolt-on acquisitions globally. We are very pleased
to have identified a consumer health care company in China
with such a strong track record of success built by its
dedicated employee base,” said Dr. Marijn Dekkers, CEO of
Bayer AG. “This acquisition moves us into a leading position
amongst multinationals in the OTC industry in China. It also
brings a portfolio of well-known consumer brands, which will
allow us to provide consumers with an even broader range of
self-care options.”
“Adding the strong OTC brands from Dihon to our portfolio
will significantly advance our business in China and
positions us well for future growth,” said Dr. Olivier
Brandicourt, CEO of Bayer HealthCare. “Equally important is
the foothold we will gain in TCM, which makes up about half
of the OTC segment in China and is a well-accepted and
sought after line of natural science-based alternative
therapies for consumers looking for trusted solutions for
their healthcare needs. We think we can leverage our recent
acquisition of Steigerwald in combination with Dihon’s
herbal TCM expertise and pipeline to benefit both these
areas, which have a different but related heritage.”
“Self-care is a critically important component of healthcare
in China and internationally, and OTCs are an important tool
to help people live happier, healthier and longer,” said Dr.
Zhenyu Guo, Chairman & CEO of Dihon Pharmaceutical Group
Co., Ltd. “As such, we’re pleased to have been able to build
a business with brands that bring relief to consumers across
China and other parts of the world. We believe that Bayer,
with its marketing, sales, distribution and research
expertise, is well positioned to take our success to the
next level. This acquisition will further strengthen the
Yunnan pharmaceutical industry and offers the potential to
further expand TCM to other parts of the world.”
Dihon generated sales of 123 million Euro in 2013. The
company employs approximately 2,400 people in R&D,
manufacturing, sales and marketing. In addition to
operations in China, Dihon brands are sold in other
countries such as Nigeria, Vietnam,
Myanmar and Cambodia. Dihon’s headquarters is in
Kunming, China. The company also has several manufacturing
sites throughout China.
About Dihon Pharmaceutical Group Co., Ltd.
Dihon's mission statement is to contribute towards a healthy
world. The company was founded as a joint stock company with
partial foreign ownership in 1997. Today, it is one of the
leading consumer health care companies in Yunnan, China,
providing innovative, effective chemical medicines and
traditional Chinese medicines in 5 areas of medical need:
dermatitis皮膚炎,
acneにきび,
recurrent oral ulcer口内炎, hyperosteogeny骨過成長,
and endometriosis子宮内膜症.
March 5, 2014
Bayer acquires DuPont aniline plant in Texas
Bayer MaterialScience has acquired DuPont's aniline
production facility in Baytown, TX.
With the acquisition, Bayer assumes responsibility for the facility's direct
operating personnel. Financial terms were not disclosed.
Aniline is a primary feedstock used to
manufacture methylene diphenyl diisocyanate (MDI), a versatile chemical used to
produce rigid polyurethane foams for insulation in the construction industry, as
well as coatings, adhesives, sealants, elastomers and binders.
The aniline facility is located within Bayer's Baytown
plant, the company's largest manufacturing facility in the U.S. and a
critical asset in its global manufacturing portfolio. Adding aniline production
fully integrates the Baytown plant along the MDI value
chain for enhanced production flexibility.
"North America is poised for strong MDI
growth driven by recovery in the construction market, energy code advancement
and home comfort trends," said Craig Caputo, vice president of polyurethanes and
regional product manager for Bayer MaterialScience. "This strategic acquisition
positions Bayer to meet this growing demand while further strengthening our
leadership in the polyurethane industry."
The acquisition also reinforces Bayer's
commitment to the Baytown facility, according to company officials. Over the
last two years, Bayer has invested roughly $120 million in process, reliability,
quality and environmental improvements at the plant, which in addition to MDI
produces toluene diisocyanate (TDI) and polycarbonate.
DuPont is a leading
producer of aniline intermediates and derivatives. We are one of the world's
largest merchant producers of aniline and the only U.S. producer marketing
nitrobenzene.
DuPont licenses
state-of-the-art hydrogentation technology for Aniline via
hydrogenation of nitrobenzene using a proprietary liquid phase
process. Aniline produced by the liquid phase process minimizes by-products
and offers capital and variable cost savings vs. other technologies.
September 18, 2014 Bayer
Bayer plans to focus entirely on Life Science
businesses
Concentration on HealthCare and
CropScience /
MaterialScience to be floated on the stock market by 2016 at the latest
/
Planned separation to benefit both Bayer and MaterialScience /
Employment levels are expected to remain stable over the next few years
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 approved the Board of Management's plans today,
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. Employment
levels are expected to remain stable over the next few
years, both globally and in Germany.
MaterialScience to gain direct access to the capital market
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.
It is planned to float the MaterialScience business on the
stock market as a separate company
within the next 12 to 18 months. A major reason for
this move is to give MaterialScience direct access to
capital for its future development. This access can no
longer be adequately ensured within the Bayer Group due to
the substantial investment needs of the Life Science
businesses for both organic and external growth. Also, as a
separate company, MaterialScience can align its
organizational and process structures and corporate culture
entirely toward its own industrial environment and business
model.
Bayer to retain a balanced portfolio
The companies of the future Bayer Group had pro forma sales
of approx. EUR 29 billion in 2013. They will employ nearly
99,000 people, including about 29,500 in Germany. Corporate
headquarters will remain in Leverkusen.
“Bayer will continue as an enterprise with an attractive and
balanced portfolio and a primary focus on organic growth,”
Dekkers explained. To this end, the company intends to raise
its research and development spending, selectively
strengthen early research at the interface between
HealthCare and CropScience, and continue driving the
successful commercialization of the recently launched
pharmaceutical products. Bayer expects these products – the
anticoagulant Xarelto™ 経口抗凝固薬,
the eye medicine Eylea™
滲出型加齢黄斑変性治療薬, the
cancer drugs Stivarga™ 転移性大腸癌の治療薬and Xofigo™ 抗がん剤, and
the pulmonary hypertension drug Adempas™ 慢性血栓塞栓性肺高血圧症– to
have a combined peak annual sales potential of at least EUR
7.5 billion.
Separate MaterialScience business more flexible in the face
of global competition
“We firmly believe that MaterialScience will use its
separate status to deploy its existing strength even more
rapidly, effectively and flexibly in the global competitive
arena,” Dekkers commented. A strategy and corporate culture
aligned to technological and cost leadership, coupled with
the ability to make its own investment and portfolio
decisions, would give MaterialScience the best development
prospects in a highly competitive market. That, said Dekkers,
includes direct capital market access so that it would not
have to compete with the Life Science businesses for
investment funding in the future.
“MaterialScience is a very well positioned business that
today operates very modern, competitive, large-scale
facilities. We have steadily invested in these facilities,
even in difficult economic times,” Dekkers pointed out,
citing the world-scale production facilities in Shanghai,
China, and the new TDI plant in Dormagen, Germany, which is
to be officially inaugurated in December. Between 2009 and
2013 alone, Bayer invested a total of over EUR 3.8 billion
in property, plant and equipment and research and
development for the MaterialScience business.
Following the intended flotation, MaterialScience will be
Europe's fourth-largest chemical company; it had global
sales in 2013 of more than EUR 11 billion (pro forma
figure). The new company is planned to have a global
workforce of roughly 16,800, including about 6,500 in
Germany. It will have a new name and a separate identity and
be headquartered in Leverkusen.
Bayer MaterialScience is
a renowned supplier of high-tech polymers and develops
innovative product solutions for a wide variety of
everyday uses. Products holding leading positions on the
world market account for a large proportion of its
sales.
The subgroup comprises three business units:
Polyurethanes; Polycarbonates; Coatings, Adhesives,
Specialties
along with the Industrial Operations unit.
A strong
backbone – Industrial Operations
Safe plants, reliable raw material supplies,
efficiency in managing resources: These activities
and many more form the basis for smooth operations
at Bayer MaterialScience. They are combined under
Industrial Operations, which supports the business
units and produces basic chemicals,
such as chlorine, sodium hydroxide solution and
hydrochloric acid. Industrial Operations
generated EUR 680 million in sales in 2013 with some
1800 employees.
Portfolio
Coatings, Adhesives, Specialties (e.g. Desmodur™,
Bayhydur™, Dispercoll™)
Polycarbonates (e.g. Makrolon™, Bayblend™; Specialty
Films, e.g. Makrofol™/Bayfol™)
Polyurethanes (e.g. Multitec™, Baydur™, Bayflex™,
Baypreg™, Vulkollan™)
Thermoplastic Polyurethanes (e.g. Desmopan™/Texin™;
Specialty Films e.g. Platilon™)
Principal products*
Apec™
Apec® is the
brand name for an advanced
copolycarbonate. With its unique
combination of high heat reistance, thoughness,
transpareny it is unlike any other engineering
thermoplastic. These properties, along with good
dimensional stability, weatherability and
flowability, allow Apec® to be utilized as a
replacement for glass, metal or standard
polycarbonate in high-heat applications
Bayblend™
Bayblend® is
the trade name used by Bayer for its product
line of amorphose, thermoplastic polymer blends
based on polycarbonate (PC) and acrylonitrile
butadiene styrene (PC+ABS blends) as well as
acrylonitrile styrene acrylate (PC + ASA
blends). Their property profiles ca be
customized by varying the compsition of the
blend. The particular strengths of Bayblend® are
its balanced combination of heat resistance,
toughness ans stiffness and its excellent
processing characteristics. The unique
combination offers an ideal conolidation of
mechanical and thermal properties for
appliances, automotive and transportation,
electrical, consumer products, medical,
electronics, IT and communication applications.
Baycusan™
Brand name
for high quality polyurethane dispersions as
film formers and powder as sensory additive for
cosmetic formulations
Baydur™
Polyurethane
integral-skin foam and molding systems for
appliance housings, medical equipment, sports
goods, sanitary items and furniture
Bayflex™
Family of
elastic polyurethane systems with customizable
properties for a range of applications
Bayhydur™
Polyurethane
dispersions for waterborne coatings in
automotive, industrial, furniture or
construction and other applications
Desmodur™/Desmophen™
Polyisocyanates and polyols for the production
of coatings in automotive, industrial, corrosion
protection, flooring and other applications and
binders, rigid and flexible foams
Desmopan™
Thermoplastic polyurethanes for a wide variety
of high-tech applications
Makrolon™
Makrolon® is
the brand name for our polycarbonate. Its
special features are its high transparenc, heat
resistance, toughness and dimensional stability,
a high crees modulus and good electrical
insilation properties. Bayer offers a broad
portfolio of Makrolon® resins. These include
general purpose, lighting, medical and food
contact, flame-retardant, impact-modified and
glass-fiber reinforced grades. These grades can
be used for injection molding, extrusion and
blow molding, in a range of markets including
automotive and transportation, construction,
electronics, medical, lighting and optical data
storage.
In response to recent media
reports, Monsanto Company disclosed that it has received an
unsolicited, non-binding proposal from Bayer AG for a
potential acquisition of Monsanto, subject to due diligence,
regulatory approvals and other conditions. The Board of
Directors of Monsanto is reviewing the proposal, in
consultation with its financial and legal advisors. Monsanto
will have no further comment until its Board of Directors
has completed its review. There is no assurance that any
transaction will be entered into or consummated, or on what
terms.
Morgan Stanley & Co. and
Ducera Partners are acting as financial advisors, and
Wachtell, Lipton, Rosen & Katz is acting as legal advisor,
to Monsanto.
---May 19, 2016 Reuters
Bayer makes move for Monsanto in global
agrichemicals shakeout
German drug and chemicals giant Bayer AG has made an unsolicited takeover offer
for Monsanto Co, the world's biggest seed company, as high inventories and low
commodity prices spur consolidation in the global agrichemicals industry.
Monsanto disclosed the approach on Wednesday before Bayer confirmed its move,
though neither released proposed deal terms.
With Monsanto worth $42 billion by market capitalization, an acquisition would
likely be bigger than ChemChina's February deal to buy Swiss agrichemicals firm
Syngenta AG for $43 billion - a target Monsanto itself pursued last year - and
could face U.S. antitrust hurdles.
Monsanto said in a statement its board is reviewing the proposal, which is
subject to due diligence, regulatory approvals and other conditions. There is no
assurance that any transaction will take place, it said.
Bayer, which has a market value of $90 billion, said in a brief statement that
its executives recently met executives of Monsanto to privately discuss a
negotiated acquisition. A further statement will be made as appropriate, it
said.
The proposal comes as Chinese state-backed ChemChina's deal for Syngenta faces
intensive regulatory review in the United States over concerns about the
security of U.S. food supply. The deal is the largest foreign acquisition ever
by a Chinese company, as Beijing seeks to secure the country's own food supply.
Any deal between Bayer and Monsanto, meanwhile, could raise U.S. antitrust
concerns because of the overlap in the seeds business, particularly in soybeans,
cotton and canola, antitrust experts have said.
However, spurning a deal with Bayer over concerns a tie-up might not receive
antitrust clearance could also pose challenges for Monsanto -
its own bid for Syngenta last year would have meant significant expansion in
seeds.
Bayer, the inventor of aspirin and maker of Yasmin birth control pills, is a
much more diversified company than Syngenta or Monsanto, with a major life
sciences business. Bayer's crop science division has businesses in seeds, crop
protection and non-agricultural pest control, potentially complementing
Monsanto's seeds assets.
BAYER, BASF AMBITIONS
Both Bayer and its German rival BASF SE have been looking to build scale in
agrichemicals in order to remain competitive. But the role of Monsanto in any
deal has been a sticking point.
Monsanto approached Bayer earlier this year to express interest in the latter's
crop science unit, in the form of an acquisition or joint venture, sources told
Reuters in March.
In a sign of how quickly Bayer turned the tables on Monsanto, the latter's
President and Chief Operating Officer, Brett Begemann, dismissed speculation of
the company being a takeover target for Bayer or BASF at an investor conference
in New York earlier on Wednesday.
"It's all wild speculation because there's nothing there," he said.
Both Bayer and BASF had been exploring tie-ups with Monsanto for several months,
but valuation concerns have made a deal elusive, people familiar had previously
told Reuters.
Bayer is ranked No. 2 in crop chemicals, with an 18 percent market share,
according to industry data. The largest, Syngenta, has a 19 percent share.
Monsanto is the leader in seeds, with a 26 percent market share, followed by
DuPont, with 21 percent. DuPont agreed last year to merge with Dow Chemical.
Morgan Stanley & Co and Ducera Partners are acting as financial advisors to
Monsanto, the company said in its statement, while Wachtell, Lipton, Rosen &
Katz is acting as legal advisor.
Jan 12, 2017
Bayer says had productive meeting with Trump over Monsanto deal
German drugs and pesticides maker Bayer, which will need regulatory approval for
its $66 billion deal to buy U.S. seeds giant Monsanto, said company chief
executives had a productive meeting with U.S. president-elect Donald Trump.
Trump talked to Bayer Chief Executive Werner Baumann, Monsanto CEO Hugh Grant
and some of their advisers in New York, his transition team said on Wednesday,
part of meetings before he takes office later this month.
"It was a productive meeting about the future of agriculture and the need for
innovation," a Bayer spokesman said on Thursday, declining to provide more
details for the moment.
The fate of major proposed mergers, not just Bayer-Monsanto but also Dow
Chemical and DuPont, which plan to spin off their combined agriculture
businesses, will be decided by Trump's nominees to lead antitrust enforcement at
the Justice Department and the Federal Trade Commission.
Antitrust and industry experts see the regulatory hurdles to a deal as
manageable because Bayer's main business in agriculture is pesticides while
Monsanto's focus is on genetically modified seeds.
Under such a scenario, Bayer could at worst be asked to divest soybean, cotton
and canola seed assets as well as LibertyLink-branded crops that are resistant
to its glufosinate herbicide, an important alternative to Monsanto's Roundup
Ready seeds.
But uncertainty remains over what regulators will make of the merged group's
grip of the overall agriculture market, with a combined market share in seeds
and pesticides of about 28 percent.
Critics argue this dominant market position will allow it to crimp research and
development efforts. Bayer has said that much needed innovation will come from
combined seeds-chemicals offerings and that it needs to merge to compete against
other integrated suppliers such as the future Dow-Dupont.
The meeting took place on the day of Trump's first news conference as
president-elect, which also saw him slam drug companies as "getting away with
murder" in what they charge the government for medicines.
Bayer, the inventor of aspirin, is among the world's top 20 pharmaceutical
groups, with products including Yasmin birth-control pills and stroke prevention
drug Xarelto.
------------ ↑
January 18, 2017
Bayer-Monsanto Pledge Investment, Jobs After
Trump Meeting
Bayer AG and Monsanto Co. promised President-elect Donald Trump
$8 billion of investment in the U.S. and thousands
of new jobs should the companies’ planned merger, the biggest-ever in
agriculture, clear regulatory approvals.
Bayer Chief Executive Officer Werner Baumann promised to
add 3,000 jobs at Monsanto while keeping its headquarters in St. Louis
after the deal is completed, Trump spokesman Sean Spicer said Tuesday.
Both companies had previously announced their intention to keep the location of
the Monsanto offices, but the commitment on jobs is new, and follows a visit
last week by both Baumann and Monsanto CEO Hugh Grant to Trump and his aides in
New York. The CEOs said in a joint statement that "several
thousand new high-tech well-paying jobs" will be added after the
integration of the two companies.
U.S. businesses are facing more pressure to show that they’re creating American
jobs ahead of Friday’s scheduled inauguration of Trump, who made the issue a
signature of his campaign. Earlier on Tuesday, he praised General Motors Co. for
a $1 billion American investment plan, having criticized the company earlier in
January for importing some models from Mexico.
On Tuesday, Wal-Mart Stores Inc. also boasted about job growth. Ford Motor Co.
and Fiat Chrysler Automobiles NV announced spending plans last week that Trump
lauded.
Job Pressure
The proposed $66 billion takeover of Monsanto by Germany’s Bayer would create
the world’s largest producer of pesticides and genetically modified seeds. The
merged company expects to spend about $16 billion in research and development in
agriculture in the next six years, with at least half of the investment made in
the U.S., Bayer and Monsanto said in their statement Tuesday. The two companies
spent about $5.9 billion combined on R&D in 2015, data compiled by Bloomberg
show.
Trump rode to his election victory partly on strong backing from rural voters,
which could increase the President-elect’s desire to bring an economic
turnaround for those supporters. A year ago, Monsanto announced that it would
shed 3,600 jobs, or about 16 percent of its global workforce, in a bid to lower
costs. The company is already the world’s biggest seed producer.
Agricultural companies could also come under increased scrutiny as a wave of
mega-deals announced in the past year has the potential to transform the
industry. Critics have raised antitrust concerns about Bayer-Monsanto, but the
companies have argued the merger will speed innovation and help farmers increase
their yields.
‘Deeply Disturbing’
The National Farmers Union, the second-biggest U.S. farm group, is among those
that oppose the deal. In a statement Tuesday, it said the meeting between the
CEOs and president-elect “is deeply disturbing if it leads to an approval of the
Bayer-Monsanto acquisition by the incoming Trump Administration.”
Still, the meeting is “positive” for getting U.S. approval, though the merger
still needs regulatory approval in other countries, Chris Shaw, an analyst at
Monness Crespi Hardt & Co. in New York, said by phone.
Bayer and Monsanto’s plan to stay and invest in the U.S. Midwest is key to its
business, since it would market to farmers, but also lines up with Trump’s
rhetoric, said Jason Miner, an analyst at Bloomberg Intelligence in Skillman,
New Jersey.
“It’s good politics and good business strategy at once,” Miner said.
May 8, 2017
Bayer to sell Liberty crop protection brands to get Monsanto deal passed
Bayer has agreed to sell its Liberty herbicide and
LibertyLink-branded seeds businesses to win
antitrust approval for its acquisition of Monsanto, it said on Monday May 8.
The divestment of the two global brands, a requirement
imposed by South Africa's Competition Commission on Sunday, will account
for the bulk of asset sales worth about $2.5 billion which need to be made to
satisfy competition regulators looking at the $66 million Monsanto deal, sources
close to the matter have said.
"Bayer has agreed to these conditions and is evaluating how best to execute the
imposed divestiture," the German group said in its statement.
It would not comment on revenues, number of affected staff or the value of the
assets.
While South Africa is a relatively small market for the two global agricultural
supplies giants, the move marks the first time for Bayer to acknowledge it has
to sell the two related Liberty brands, which compete with
Monsanto's Roundup weed killer and Roundup Ready seeds.
The planned divestitures are also widely expected to be required by competition
regulators in larger jurisdictions, such as the United States, where approval
has been requested, and the European Union, where an application for approval
has yet to be made.
"Bayer will continue working with regulators globally with a view to receiving
approval of the proposed transaction by the end of 2017," the company said,
reaffirming an earlier goal.
LibertyLink seeds, mainly used by soy, cotton and canola growers, are an
important alternative to Roundup Ready seeds for farmers suffering from weeds
that have developed resistance to the Roundup herbicide, also known as
glyphosate.
The spread of Roundup-resistant weeds in North America has been a major driver
behind Liberty sales.
Monsanto, for its part, has responded by combining Roundup with older weed
killer dicamba to finish off the Roundup-resistant weeds, while selling farm
crops that withstand the plant-killing effects of both compounds.
As part of a global investment drive worth hundreds of millions of euros to
double the global output capacity of Liberty since 2013, Bayer has built a
production plant in Mobile, Alabama, to complement an existing facility in
Frankfurt, Germany.
October 13, 2017 Bayer
Bayer signs agreement to sell selected Crop
Science businesses to BASF for EUR 5.9 billion
Milestone on Bayer’s path to completing the planned acquisition of Monsanto
Package includes global glufosinate-ammonium
business and selected seeds activities /
Assets generated total sales of EUR 1.3 billion in 2016 /
Sale is subject to successful closing of Bayer’s acquisition of Monsanto
/
BASF has committed to maintain employment for all transferring permanent
employees for at least three years post closing
In light of the planned acquisition of
Monsanto, Bayer has signed an agreement to sell selected Crop Science
businesses to BASF for EUR 5.9 billion. The
assets to be sold generated net sales of approximately EUR 1.3 billion
in 2016. “We are taking an active approach to
address potential regulatory concerns, with the goal of
facilitating a successful close of the Monsanto transaction,” explained
Werner Baumann, Chairman of the Board of Management of Bayer AG. “At the
same time, we are pleased that, in BASF, we have found a strong buyer
for our businesses that will continue to serve the needs of growers and
offer our employees long-term prospects.” The transaction is subject to
regulatory approvals as well as the successful closing of Bayer’s
acquisition of Monsanto.
The assets to be sold include Bayer’s global
glufosinate-ammonium business グルホシネートアンモニウム塩:非選択性のアミノ酸系除草剤 and
the related LibertyLink™(Bayerの除草剤 Liberty
に耐性をもつ作物) technology for herbicide
tolerance, essentially all of the company’s field crop seeds businesses,
as well as respective research and development capabilities. The seeds
businesses being divested include the global
cotton seed business (excluding India and South Africa), the
North American and European canola seed businesses
and the soybean seed business. The transaction includes the
transfer of relevant intellectual property and facilities, as well as
more than 1,800 employees primarily in the United States, Germany,
Brazil, Canada and Belgium. As part of the agreement, BASF has committed
to maintain all permanent positions, under similar conditions, for at
least three years after closing of the transaction.
“We are very grateful to our employees, who have played a key role in
the success of these businesses over the years,” said Baumann. “At the
same time, we are aware of the need to address certain overlaps in the
combined product portfolio of Bayer and Monsanto.” Bayer continues to
work diligently with the relevant authorities with the aim of closing
the planned acquisition of Monsanto by early 2018.
“With this acquisition, we are seizing the opportunity to purchase
highly attractive assets in key row crops and markets. We look forward
to growing these innovative and profitable businesses and to welcoming
the experienced and dedicated team in crop protection, seeds and traits.
These businesses are an excellent match for BASF Group’s portfolio,”
said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF
SE.
“I am very pleased that, in BASF, Bayer has selected an acquirer that,
like our company, attaches a great deal of importance to social
partnership and values its employees. I welcome the fact that BASF has
committed to offering comparable employment conditions for our
colleagues,” said Oliver Zühlke, Chairman of the Bayer Central Works
Council.
Bayer will continue to own, operate and maintain these businesses until
the closing of this divestiture. After the closure of the planned
Monsanto acquisition, Bayer will continue to be active in these same
areas as a result of Monsanto’s current programs, products and
offerings.
The base purchase price of EUR 5.9 billion excludes the value of any net
working capital and will be subject to customary adjustments at closing,
including the value of any inventories transferred to BASF. Bayer will
use net proceeds from the announced divestiture to partially refinance
the planned acquisition of Monsanto. Bayer will provide an update on the
total expected synergies from the Monsanto acquisition latest upon
closing of the transaction.
BofA Merrill Lynch and Credit Suisse are acting as financial advisors to
Bayer. Bayer’s legal advisors are Sullivan & Cromwell, Dentons, Cohen &
Grigsby and Redeker, Sellner & Dahs.
BASF signs agreement to acquire significant
parts of Bayer’s seed and non-selective herbicide businesses
Strengthens and
expands BASF’s Agricultural Solutions offer
Attractive and
targeted portfolio additions in key row crops in
select countries
Underpins BASF’s
commitment to agriculture, innovation and long-term
growth
BASF has signed an
agreement to acquire significant parts of Bayer’s seed
and non-selective herbicide businesses. Bayer intends to
divest these assets in the context of its planned
acquisition of Monsanto. The all-cash purchase price is
€5.9 billion, subject to certain adjustments at closing.
The assets to be acquired include Bayer’s global
glufosinate-ammonium non-selective herbicide business,
commercialized under the Liberty®, Basta®
and Finale® brands, as well as its seed
businesses for key row crops in select markets: canola
hybrids in North America under the InVigor®
brand using the LibertyLink® trait
technology, oilseed rape mainly in European markets,
cotton in the Americas and Europe as well as soybean in
the Americas. The transaction also includes Bayer’s
trait research and breeding capabilities for these crops
and the LibertyLink® trait and trademark.
For the full year
2016, sales of the business to be purchased from Bayer
amounted to around €1.3 billion and EBITDA to around
€385 million. The transaction is subject to the closing
of Bayer’s acquisition of Monsanto and approval by
relevant authorities. It is expected to close in the
first quarter of 2018.
“With this
investment, we are seizing the opportunity to acquire
highly attractive assets in key row crops and markets.
It will be a strategic complement to BASF’s
well-established and successful crop protection business
as well as to our own activities in biotechnology,” said
Dr. Kurt Bock, Chairman of the Board of Executive
Directors of BASF SE. “The acquisition will further
enhance our agricultural solutions offer, which is a
core pillar of BASF’s portfolio.”
The acquisition
complements BASF’s crop protection business,
strengthening the company’s herbicide portfolio and
marking its entry into the seed business with
proprietary assets in key agricultural markets.
“Building on the competent new team members and the
enhanced portfolio, we will offer farmers a greater
choice of solutions addressing their needs for
high-quality seeds, chemical and biological crop
protection,” explained Saori Dubourg, Member of the
Board of Executive Directors of BASF SE and responsible
for the Agricultural Solutions segment. “Moreover, this
transaction will create new opportunities for future
growth and strengthen our global innovation potential.”
More than 1,800
commercial, R&D, breeding and production personnel shall
transfer from Bayer to BASF. These employees are
primarily located in the United States, Germany, Brazil,
Canada and Belgium. Furthermore, BASF will acquire the
manufacturing sites for glufosinate-ammonium production
and formulation in Germany, the United States, and
Canada, seed breeding facilities in the Americas and
Europe as well as trait research facilities in the
United States and Europe. “We look forward to welcoming
our new colleagues to BASF. As highly experienced,
dedicated and motivated professionals they will enrich
our team with their expert knowledge in crop protection,
seeds and traits. Together, we will shape the long-term
success of BASF, serving the needs of farmers around the
globe,” said Markus Heldt, President of BASF’s Crop
Protection division.
January 11, 2018
Bayer sells 10.4 percent stake in Covestro
Bayer AG has reduced its direct interest
in Covestro from 24.6 percent
to 14.2 percent, selling a total of 21
million shares at a price of EUR 86.25 per share. Due to strong interest
shown by investors, the placement volume amounted to EUR 1.8 billion,
clearly exceeding the EUR 1.5 billion initially envisaged. The share
placement took place on Wednesday evening after market close and was
aimed exclusively at institutional investors. Credit Suisse and Goldman
Sachs International acted as joint bookrunners. As part of the
placement, Bayer has agreed to a 90-day lock-up period.
Apart from the direct interest that Bayer AG holds in Covestro, Bayer
Pension Trust holds a further 8.9 percent. As already announced, Bayer
intends to achieve full separation from Covestro in the medium term.
Apr 20, 2018
Bayer gains
Russian approval for Monsanto deal
Bayer AG said Friday that Russian
antitrust authorities have approved its proposed $57 billion
acquisition of Monsanto Co. on the condition that the German
company transfers certain technologies to Russian recipients.
Under the terms of the approval,
Bayer agreed to transfer selected molecular breeding assets in
several crops for a period of five years, the company said. It
didn't specify who the Russian recipients will be.
Bayer said it has agreed to grant
non-discriminatory access to digital-farming technologies after the
products have been launched in Russia.
The approval brings Bayer a step
closer toward achieving its goal of acquiring Monsanto, which it
first announced in 2016 and which it aims to close in the second
quarter of 2018.
Bayer received conditional
approval from the European Commission in March and is still
waiting for a ruling from the U.S. Department
of Justice.
2018/04/27
BASF、バイエルの種子と農薬に係る事業・資産を追加で買収することについて同社と合意
Bayer 発表April 26,
2018
In light of the
proposed acquisition of Monsanto, Bayer has signed
an agreement to sell further Crop Science businesses
to BASF for up to 1.7 billion euros. The businesses
to be sold generated total sales of 745 million
euros in 2017.
“With this move,
we are implementing the corresponding undertakings
made to the European
Commission and other regulatory authorities
to allow the successful closing of the Monsanto
transaction,” explained Werner Baumann, Chairman of
the Board of Management of Bayer AG. “In BASF, we
are pleased that, for these businesses too, we have
found a strong buyer that will continue to serve the
needs of growers and offer our employees long-term
prospects.”
The transaction
is subject to regulatory approval as well as the
successful closing of Bayer’s acquisition of
Monsanto.
Bayer concludes process to sell Covestro
14.2 percent interest sold for 2.2 billion euros / 6.8 percent of shares
retained to repay exchangeable bond
On Thursday night, the Bayer
Group sold 28.81 million shares representing a 14.2 percent
interest in Covestro at a price of 75.50 euros per share.
The proceeds of this sale totaled 2.2 billion euros.
Bayer AG now holds
just 6.8 percent of Covestro shares to repay the
exchangeable bond that matures in 2020. Bayer AG acquired
these shares from Bayer Pension Trust, which now no longer
holds any Covestro shares.
May 29, 2018 Bayer
U. S. Department of Justice conditionally
approves Bayer’s proposed acquisition of Monsanto
Operations of Bayer and Monsanto to be integrated as soon as divestments to BASF
have been accomplished
On Tuesday (2018/5/29) , Bayer obtained conditional approval from the Antitrust
Division of the United States Department of Justice (DOJ) for the proposed
acquisition of Monsanto. “Receipt of the DOJ’s approval brings us close to our
goal of creating a leading company in agriculture,” said Bayer CEO Werner
Baumann. “We want to help farmers across the world grow more nutritious food in
a more sustainable way.” Bayer has now obtained almost all clearances which are
conditions for closing the transaction. The company expects to receive any
outstanding approvals required for completing the transaction very shortly.
Bayer will become the sole shareholder of Monsanto Company following the receipt
of outstanding approvals. According to the DOJ’s conditional approval, the
integration of Monsanto into Bayer can take place as soon as the divestments to
BASF have been accomplished. This is expected to be in approximately two months.
-----
May 29, 2018 US Justice Department
Justice Department Secures
Largest Merger Divestiture Ever to Preserve Competition Threatened by Bayer’s
Acquisition of Monsanto
Robust Structural Solution Fully
Resolves All Horizontal and Vertical Competition Concerns Raised
by the Merger, Protecting American Farmers and Consumers
The Department of Justice announced
today that it is requiring Bayer AG to divest businesses and assets
collectively worth approximately $9 billion
in order to proceed with its proposed $66 billion acquisition
of Monsanto Company. The proposed divestiture to BASF, an
experienced chemical company with a substantial crop protection
business, will fully resolve all horizontal and vertical competition
concerns. As a result, American farmers and consumers will continue
to benefit from competition in this industry.
“This comprehensive structural solution
to significant horizontal and vertical competition concerns—the
largest merger divestiture ever required by the United
States—preserves competition in the sale of these critical
agricultural products and protects American farmers and consumers,”
said Assistant Attorney General Makan Delrahim of the Antitrust
Division. “We commend the parties for working with the Antitrust
Division to resolve our concerns on behalf of American consumers.”
The Department’s Antitrust
Division today filed a civil antitrust lawsuit in the U.S. District
Court for the District of Columbia to block the proposed transaction
while simultaneously filing a proposed settlement that, if approved
by the court, would resolve the Department’s competitive concerns.
Bayer, based in Leverkusen,
Germany, and Monsanto, headquartered in St. Louis, Missouri, are two
of the largest agricultural companies in the world. They compete to
provide farmers with a broad range of seed and crop protection
products. Bayer and Monsanto also have been leaders in developing
technologies that have allowed farmers to increase significantly
crop yields and improve efficiency. Without the agreed-to
divestitures, the proposed merger would likely result in higher
prices, lower quality, and fewer choices across a wide array of seed
and crop protection products. The merger also threatened to stifle
the innovation in agricultural technologies that has delivered
significant benefits to American farmers and consumers.
Under the terms of the proposed
settlement, Bayer must divest those Bayer
businesses that compete with Monsanto today. These include
Bayer’s cotton, canola, soybean, and vegetable
seed businesses, as well as Bayer’s Liberty herbicide business,
a key competitor of Monsanto’s well-known Roundup herbicide.
The settlement also requires
structural divestitures to remedy the
competitive harm that would result from the vertical
integration of certain significant Bayer seed
treatment businesses with Monsanto’s leading seed
businesses. Additionally, because Bayer and Monsanto currently
compete to develop new products and services, the settlement
requires the divestiture of certain
intellectual property and research capabilities, including
“pipeline” R&D projects. Finally, in order to fully prevent
competitive harm from the merger, the settlement requires
the divestiture of additional complementary
assets that are needed to ensure that BASF has the same
innovation incentives, capabilities and scale that Bayer would have
as an independent competitor including, most notably, Bayer’s
nascent “digital agriculture” business.
The settlement also includes,
consistent with other settlements in this Administration, several
provisions designed to improve the effectiveness of the decree and
the Division’s future ability to enforce it.
The Department expressed thanks
to its enforcement partners around the world, especially its
counterparts at the European Commission, the Canadian Competition
Bureau, and the Administrative Council for Economic Defense (CADE)
of Brazil, for their close and constructive collaboration on this
matter.
As required by the Tunney Act,
the proposed settlement, along with the Department’s competitive
impact statement, will be published in the Federal Register. Any
person may submit written comments concerning the proposed
settlement within 60 days of its publication to Kathleen S. O’Neill,
Chief, Transportation, Energy & Agriculture Section, Antitrust
Division, U.S. Department of Justice, 450 Fifth Street, N.W., Suite
8000, Washington, D.C. 20530. At the conclusion of the 60-day
comment period, the court may enter the final judgment upon a
finding that it serves the public interest.
June 7, 2018 Bayer
2018/6/7 買収完了、Monsantoの上場廃止、Bayerの100%子会社に。両社統合は当局に約束した売却の完了後で約2か月後
Bayer closes Monsanto acquisition
Bayer successfully
completed the acquisition of Monsanto
on Thursday 2018/6/7. Shares in the U.S. company will
no longer be traded on the New York Stock Exchange, with
Bayer now the sole owner of Monsanto
Company. Monsanto shareholders are being paid 128
U.S. dollars per share. J.P. Morgan assisted Bayer with
processing the purchase price payment for the largest
acquisition in the company’s history. According to the
conditional approval from the United States Department of
Justice, the integration of Monsanto
into Bayer can take place as soon as the divestments to BASF
have been completed. This integration process is
expected to commence in approximately two months.
“Today is a great day: for our customers – farmers around
the world whom we will be able to help secure and improve
their harvests even better; for our shareholders, because
this transaction has the potential to create significant
value; and for consumers and broader society, because we
will be even better placed to help the world’s farmers grow
more healthy and affordable food in a sustainable manner. As
a leading innovation engine in agriculture, we offer
employees around the world attractive jobs and development
opportunities,” said Werner Baumann, Chairman of the Bayer
Board of Management. “Our sustainability targets are as
important to us as our financial targets. We aim to live up
to the heightened responsibility that a leadership position
in agriculture entails and to deepen our dialogue with
society.”
“Today’s closing represents an important milestone toward
the vision of creating a leading agricultural company,
supporting growers in their efforts to be more productive
and sustainable for the benefit of our planet and
consumers,” said Hugh Grant, outgoing Chairman and CEO of
Monsanto. “I am proud of the path we have paved as Monsanto
and look forward to the combined company helping move modern
agriculture forward.”
Liam Condon, member of the Bayer Board of Management, will
lead the combined Crop Science Division when the integration
commences. Until that time, Monsanto will operate
independently from Bayer.
Bayer AG has asked a California judge to overrule a $2 billion verdict by jurors
who found the company’s glyphosate-based Roundup weed killer responsible for a
couple’s cancer, arguing the jury decision was not supported by evidence.
The German drugmaker and chemicals company in court filings on Monday in Alameda
County Superior Court in Oakland blamed the massive verdict
on “inflammatory, fabricated and irrelevant evidence” from the couples’
lawyers.
“The resulting trial focused not on ascertaining the truth regarding the state
of the science, causation, and compliance with legal duties, but instead on
vilifying Monsanto in the abstract,” the company, which bought Monsanto last
year for $63 billion, said in motions filed with the court.
Bayer faces Roundup cancer lawsuits by more than 13,400 plaintiffs across the
United States. It denies the allegations, saying the weed killer and its active
ingredient glyphosate is safe for human use.
The verdict and two prior jury decisions against Bayer have triggered steep
declines in Bayer shares, leaving it with a market valuation of $56 billion.
Bayer asked Superior Court Judge Winifred Smith, who presided over the roughly
seven-week long trial, to reverse the jury decision and
enter judgment in Bayer’s favor, or order a new trial.
The Oakland jury on May 13 awarded more than $2 billion to Alva and Alberta
Pilliod, finding their non-Hodgkin’s lymphoma to have been caused by using
Roundup to kill weeds on their property between 1975 and 2011.
The jury awarded $18 million in compensatory and $1
billion in punitive damages to Alva Pilliod, and
$37 million in compensatory and $1 billion in punitive damages to his wife.
Bayer in its court filings called the punitive damages excessive and
unconstitutional, and asked Smith to toss or significantly reduce the award. The
large punitive damages award is likely to be reduced due to U.S. Supreme Court
rulings that limit the ratio of punitive to compensatory damages to 9:1.
Michael Miller, a lawyer for the Pilliods, in a statement on Tuesday said the
verdict would be sustained.
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“Monsanto is arguing the same worn out arguments it unsuccessfully used in the
first trial,” Miller said.
In that trial, a California jury in 2018 awarded $289 million to a California
groundskeeper, finding Monsanto’s glyphosate-based weed killers caused his
cancer. That award was later reduced to $78 million and being appealed.
In March, a federal jury in San Francisco awarded $80 million to another
California man after finding Roundup caused his cancer. The company said it
would appeal that decision.
July 16, 2019
U.S. judge slashes
Roundup jury award to $25.3 million; Bayer still plans to
appeal 陪審員判断
- A federal judge on Monday slashed a damages award
Bayer AG owed a California man who blamed Roundup weed killer
for his cancer, to $25.27 million from $80.27 million, while
rejecting the company’s bid for a new trial.
U.S. District Judge Vince Chhabria in San Francisco said evidence against the
former Monsanto Co, which Bayer bought last year, supported the $5.27 million in
compensatory damages that a jury awarded Edwin Hardeman. He also said the jury
acted reasonably in awarding punitive damages.
Chhabria nonetheless reduced punitive damages to $20 million from $75
million, saying that while Monsanto “deserves to be punished”
the higher award
was “constitutionally impermissible” because it was nearly 15 times the
compensatory damages award.
“Monsanto’s conduct, while reprehensible, does not warrant a ratio of that
magnitude, particularly in the absence of evidence showing intentional
concealment of a known or obvious safety risk,” Chhabria wrote.
Hardeman said he used Roundup for many years starting in the 1980s to treat
poison oak and weeds on his property.
He was diagnosed with non-Hodgkin’s lymphoma in 2014, but is now in
remission.
Hardeman is one of more than 13,400 plaintiffs who have sued Bayer and
Monsanto over Roundup, saying the herbicide’s active ingredient, glyphosate, is
unsafe. His case was considered a bellwether for hundreds of similar cases
before Chhabria.
In a statement, Bayer called Chhabria’s decision “a step in the right
direction,” but said it still plans to appeal.
Bayer said the verdict and damages award “conflict with both the weight of
the extensive science that supports the safety of Roundup, and the conclusions
of leading health regulators in the U.S. and around the world that glyphosate is
not carcinogenic.”
Hardeman may appeal Chhabria’s decision to reduce the damages award, which
one of his lawyers, Michael Baum, in a statement called a “reversible error.”
U.S. Supreme Court precedents limit the ratio of punitive to compensatory
damages to 9 to 1.
“We are pleased that the judge denied Monsanto’s motion to throw out the
verdict, and recognized that Monsanto deserved to be punished,” Jennifer Moore,
a lawyer for Hardeman, said in an interview. “We disagree with any reduction in
the jury verdict.”
Bayer paid $63 billion for Monsanto.
The case is In re Roundup Products Liability Litigation, U.S. District Court,
Northern District of California, No. 16-md-02741. The Hardeman case is Hardeman
v Monsanto Co in the same court, No. 16-00525.
Jul 22, 2019
Bayer sells Dr. Scholl's foot care business
to Boston firm
German
pharmaceutical and chemical company Bayer AG says U.S. investment firm
Yellow Wood Partners will buy its Dr.
Scholl's foot care business for $585 million.
Bayer
said Monday that the sale will enable it to "focus on building its core
over-the-counter brands." It said that Yellow Wood Partners, based in
Boston, will create a stand-alone company and plans to invest in all
aspects of the business.
The
transaction, which requires approval from competition authorities, is
expected to close in the fourth quarter.
Dr. Scholl's,
which had sales of $234 million last year, makes insoles, inserts and a
variety of foot care and treatment products.
Bayer to sell its
Animal Health business unit to Elanco for 7.6 billion U.S. dollars
Exit of Animal Health business completes the
series of portfolio measures initiated by Bayer in November 2018 ahead of
announced schedule / Enhances Bayer’s focus as a global leader in life
sciences
U.S.-based company
Elanco Animal Health has entered into a definitive agreement to
acquire Bayer’s Animal Health business,
Bayer announced on Tuesday. The transaction is valued at
7.6 billion U.S. dollars consisting of
5.3 billion U.S. dollars in cash, subject
to customary purchase price adjustments, and 2.3
billion U.S. dollars in Elanco stock based on the unaffected
30-day volume weighted average price as of August 6, 2019. The value of
the equity consideration is fixed within a 7.5 percent collar. The
transaction value represents an implied multiple of 18.8x based on the
12 months EBITDA before special items of Bayer Animal Health as of June
30, 2019. The divestment is expected to be concluded in mid-2020 subject
to the satisfaction of customary closing conditions, including antitrust
clearance. Bayer intends to exit its stake in Elanco over time.
“This transaction enhances our focus as a global
leader in life sciences,” said Werner Baumann, Chairman of the
Board of Management of Bayer AG. The exit of the Animal Health business
marks the largest transaction in the series of portfolio measures
initiated by Bayer in November 2018. The company had previously
announced the divestiture of its Consumer Health
brands Coppertone™ and Dr. Scholl’s™ along with the sale of its
60-percent stake in German site services provider Currenta. “We
are therefore delivering ahead of schedule on one of the key priorities
for driving value creation that we communicated at our Capital Markets
Day in December 2018”, said Baumann.
The combination is highly complementary and creates the number two
animal health company, with top three positions across a broad range of
species and geographies. It also enhances Elanco’s portfolio of leading
global brands and bolsters its innovation capabilities and R&D pipeline.
“I have tremendous respect for the Bayer Animal Health team and their
shared passion for improving the health and well-being of animals,” said
Jeffrey N. Simmons, president and chief executive officer of Elanco.
“Combining Elanco’s strong relationship with veterinarians and Bayer’s
leadership in retail and e-commerce will ultimately benefit all our
customers. We look forward to joining our complementary portfolios and
capabilities to build a fully focused animal health company, providing a
sustained flow of innovation for farmers, veterinarians and pet owners.”
Bayer’s Animal Health business is a global leader in the segment with
sales of 1.8 billion U.S. dollars in fiscal 2018. It develops and
markets innovative products and solutions to prevent and treat diseases
in companion and farm animals. The Advantage™ family of flea, tick and
worm control products, for instance, has been among the most successful
products on the market for years. In addition, the innovative Seresto™
collar is one of the fastest-growing products in this area.
“We would like to thank all our Animal Health employees for the
commitment they have shown over the years and for the success this has
brought to Bayer and to our Animal Health business. We were also able to
safeguard the interests of our employees,” said Baumann. Under the
agreement with Elanco, all Bayer Animal Health employees will have at
least one year of employment protection against unilateral termination
with similar and no less favorable benefits in the aggregate.
Bank of America Merrill Lynch and Credit Suisse acted as financial
advisors to Bayer, while Sullivan & Cromwell, PwC Legal and Linklaters
acted as legal advisors.
About Elanco
Elanco is a global animal health company that develops products and
knowledge services to prevent and treat disease in food animals and pets
in more than 90 countries. With a 64-year heritage, we rigorously
innovate to improve the health of animals and benefit our customers,
while fostering an inclusive, cause-driven culture for more than 5,800
employees. At Elanco, we’re driven by our vision of food and
companionship enriching life — all to advance the health of animals,
people and the planet. Learn more at, go to
www.elanco.com.
エランコは、米国インディアナ州に本社を置く世界的な製薬企業、Eli Lilly and
Company の一部門として1954年に設立され、1965年から日本でも活動を始めました。
Elanco Animal Health Incorporated announced
on March 11,2019、that it is now a fully independent
company. The completion of Eli Lilly and Company’s exchange offer
completes the journey Elanco began in 2017 when its former parent company first
announced the exploration of potential strategic alternatives for the
64-year-old animal health company. The exchange offer was 7.6x oversubscribed.
The share exchange was completed less than
six months after Elanco’s IPO, when 19.8 percent of its shares were sold to the
public. Since that time, Elanco has reported two quarters of financial and
operating results as a standalone company and continues to demonstrate the
strength of its strategy, with full year 2018 revenue increasing 6 percent to
$3.1 billion.
Judge
finalizes 2018 finding that warning violates
free speech
Prop. 65
listing also exposes Bayer to litigation,
judge says
Bayer AG’s Roundup won’t require a label
in California warning consumers that a chemical in the
weed killer is known to cause cancer.
A federal judge in Sacramento on Monday ruled for Bayer and blocked the
state from requiring that any company selling a glyphosate-based produce
place a “clear and reasonable warning” on it.
California’s Office of Environmental Health
Hazard Assessment listed glyphosate in July 2017 as a chemical known to the
state to cause cancer. Bayer’s Monsanto unit has aggressively fought
California’s move to add glyphosate to a list created by a voter-approved ballot
initiative, Proposition 65, that requires explicit warnings for consumer
products containing substances that may cause cancer or birth defects.
U.S. District Judge William B. Shubb on Monday made final his 2018 preliminary
ruling that requiring Bayer to provide the warning on Roundup is
a violation of its free-speech protections. The
International Agency for the Research on Cancer, part of the World Health
Organization, has found glyphosate is likely to cause cancer but Shubb said
others, including the U.S. Environmental Protection
Agency, found otherwise.
“Notwithstanding the IARC’s determination
that glyphosate is a ‘probable carcinogen,’ the statement that glyphosate is
‘known to the state of California to cause cancer’ is misleading,” the judge
wrote. “Every regulator of which the court is aware, with the sole exception of
the IARC, has found that glyphosate does not cause cancer or that there is
insufficient evidence to show that it does.”
A coalition of farming groups, including the
National Corn Growers Association, National Association of Wheat Grower and
Agricultural Retailers Association, joined Bayer in the lawsuit opposing the
labeling.
“This is a very important ruling for
California agriculture and for science,” Bayer said in an emailed statement. The
judge concluded “the evidence does not support a cancer-warning requirement for
glyphosate-based products, which farmers all over the world depend on to control
weeds, practice sustainable farming, and bring their products to market
efficiently,” it said.
Shubb also found that a warning label would
expose Bayer to lawsuits in which it has the burden of showing that in using
Roundup, exposure to glyphosate falls below the “no significant risk level” in
Prop. 65 enforcement actions.
“Facing enforcement actions, or even the possible risk of enforcement actions,
are cognizable injuries, even if a business can ultimately prove that its
product is not a cancer risk,” Shubb wrote.
The case is National Association of Wheat Growers v. Zeise, 17-2401, U.S.
District Court, Eastern District of California (Sacramento).
Bayer to pay $1.6 billion to end
suits over contraceptive
Bayer agreed to pay
$1.6 billion to resolve
most of the U.S. litigation over its now-withdrawn
Essure contraceptive device, which some women said
caused excessive bleeding and pelvic pain or failed to
prevent pregnancies.
The deal will resolve
about 90% of the 39,000 lawsuits consolidated in courts
in California and Pennsylvania, Bayer said Thursday in a
statement. The proposed payout is considerably more than
the $1.1 billion Bayer paid
in 2013 to acquire Conceptus, the
company that developed the device.
Bayer stopped selling
Essure in 2018.
Legal bills are
piling up at Bayer. The Leverkusen, Germany-based
company announced a $12.1 billion plan in June to settle
lawsuits over products it inherited with the $63 billion
takeover of Monsanto, including Roundup weedkiller. But
Bayer still hasn’t resolved tens of thousands of current
Roundup cancer claims or reached a deal for handling
future suits over the herbicide, which would be covered
by the plan.
Investors have
punished Bayer for its legal troubles. The shares are
down by more than a third since the Monsanto acquisition
closed in June 2018. CEO Werner Baumann has come under
increasing pressure to chart a path forward, though
investors gave him a vote of confidence in April. Bayer
insists that Roundup is safe and has appealed three lost
trials over the product.
The Essure settlement
was largely expected after Bayer said earlier this month
that it had reserved 1.25 billion
euros ($1.47 billion), primarily to settle litigation
over the contraceptive implant. No cases have
proceeded to trial.
Bayer sought a deal
on the Essure claims to remove the “distractions and
uncertainties associated with this litigation,”
according to its statement. The company said the
settlement didn’t amount to an admission of wrongdoing
or liability.
Fidelma Fitzpatrick,
the lead plaintiffs’ lawyer in the California Essure
litigation, welcomed the agreement while noting that she
and others had been prepared to allow juries to decide
whether Bayer should be held liable for injuries.
The settlement “would
provide expedited relief to thousands of women,”
Fitzpatrick, a partner in the Mount Pleasant, South
Carolina-based Motley Rice law firm, said in an emailed
statement. “Women have suffered for years not only
physically, but also emotionally and financially from
the often enormous Essure-related medical bills they
face.”
Thousands of women
accused Bayer and Conceptus of failing to properly
report injury complaints linked to Essure in order to
protect hundreds of millions of dollars in sales.
Experts hired by plaintiffs’ lawyers said the
under-reporting of injuries -- which included unwanted
pregnancies, excessive bleeding, organ damage, migraines
and miscarriages -- kept Essure on the market without
adequate safety warnings for a decade, according to
files made public by a California judge last month.
The judge unsealed
the files, which included some Conceptus and Bayer
internal records and emails, at the request of Public
Justice, a nonprofit advocacy group backed by
plaintiffs’ lawyers. In those filings, Bayer’s experts
disputed allegations that its complaint-reporting
systems were flawed and said they routinely passed U.S.
Food and Drug Administration audits.
In 2016, the FDA
ordered Bayer to beef up safety information on Essure’s
warning label. Sales fell, and the device maker stopped
selling the implant two years later, calling it a
“business decision.” At the time, thousands of women had
launched a campaign on social media to have regulators
order its removal from the market. The group was known
as the “E-Sisters.”
The first U.S. trial
of Essure claims was set to start in state court in
Oakland, Calif., earlier this year but was delayed by
the coronavirus pandemic that closed businesses and
courts. About 29,000 cases had been consolidated before
Judge Winifred Smith with other cases being litigated in
state and federal courts in Philadelphia, according to
court records.
In its release, Bayer
said Thursday’s settlement only
applied to U.S. suits. Lawyers for U.K. women who
also got the implants complained their clients have been
left out of discussions to resolve the cases. Harris
Pogust, a lawyer for the women, said more than 100,000
women in Britain also got the devices.
“Do women in the U.K.
not feel the same pain? Have they not endured the same
suffering?” Pogust said in a release. “It’s now time for
Bayer to be held to account and to compensate the
thousands of women in the U.K. who have suffered
avoidable pain and suffering.”
2020/10/27
独バイエル、遺伝子治療の米社を買収 最大4200億円で
独医薬・農薬大手のバイエルは26日、遺伝子治療の米 Asklepios
BioPharmaceutical Inc. を最大40億ドルで買収すると発表した。2020年中の完了を目指す。難病治療への効果が期待される遺伝子治療の分野を強化する。
Bayer acquires
Asklepios BioPharmaceutical to broaden innovation base in cell and gene therapy
Acquisition fuels
Bayer’s cell and gene therapy platform with potential to bring urgently
needed treatments to patients across multiple disease areas with high unmet
need / AskBio's industry leading AAV-based gene therapy platform already
yielding commercial and clinical stage assets with potential of helping
larger patient populations / Portfolio includes investigational pre-clinical
and clinical stage development candidates for the treatment of
neuromuscular, central nervous system, cardiovascular and metabolic diseases
such as therapeutics for Pompe disease, Parkinson’s disease and congestive
heart failure, as well as out-licensed clinical candidates for hemophilia
and Duchenne muscular dystrophy / Acquisition secures additionally revenue
generating Contract Development and Manufacturing Business based on highly
efficient Pro10™ Cell line / AskBio to operate autonomously and on an
arms-length basis / Purchase price of USD 2 billion upfront and up to USD 2
billion in success-based milestone payments
Bayer AG today announced the
acquisition of Asklepios BioPharmaceutical, Inc. (AskBio), a
US-headquartered biopharmaceutical company specialized in the research,
development and manufacturing of gene therapies across different
therapeutic areas. AskBio’s development portfolio includes
investigational pre-clinical and clinical stage candidates for the
treatment of neuromuscular, central nervous system, cardiovascular and
metabolic diseases.
Bayer will own full rights to AskBio’s gene therapy platform, including
a broad intellectual property portfolio and an established contract
development and manufacturing organization (CDMO) laying the foundation
for future partnerships in the area of adeno-associated virus (AAV)
therapies. The addition of AskBio to Bayer’s emerging cell and gene
therapy (CGT) business strengthens Bayer’s commitment to the field. It
complements the 2019 acquisition of BlueRock Therapeutics and
consolidates Bayer’s ambition to create platforms with the potential to
have an impact in multiple therapeutic areas. Under the terms of the
agreement, Bayer will pay an upfront consideration of USD 2 billion and
potential success-based milestone payments of up to USD 2 billion. Some
75 percent of the potential success-based milestone payments are
expected to be due during the course of the next five years and the
remaining amount late thereafter.
“In line with our purpose ‘science for a better life’, we are committed
to bringing significant improvements for patients through innovation,”
said Werner Baumann, Chairman of the Board of Management (CEO) of Bayer
AG. “With this acquisition, Bayer significantly advances the
establishment of a cell and gene therapy platform that can be at the
forefront of breakthrough science, contributing to preventing or even
curing diseases caused by gene defects and further driving company
growth in the future.”
“As part of our strategy, we are building new therapeutic platforms
including cell and gene therapies,” said Stefan Oelrich, Member of the
Board of Management, Bayer AG and President of the Bayer’s
Pharmaceuticals Division. “As an emerging leader in the rapidly
advancing field of gene therapies, the expertise and portfolio of AskBio
supports us in establishing highly innovative treatment options for
patients and further strengthens our portfolio. We want to help patients
whose medical needs are not yet met by today’s treatment options and we
are looking forward to work together with the team at AskBio.”
“Our innovation in capsid re-engineering and promoter design, coupled
with our scaled manufacturing processes, gives us the tools to provide
gene therapy solutions to more people suffering from a wider spectrum of
disease that is not being adequately treated today,” said Dr. Richard
Jude Samulski, Chief Scientific Officer and Co-Founder of AskBio. “With
Bayer‘s worldwide reach and translational expertise, especially in
pathway diseases, our combined cultures of scientific advancement and
commitment to patients, along with the retention of AskBio’s independent
structure, Bayer and AskBio are positioned to provide accelerated
development of gene therapies to treat more patients who can benefit
from them,” said Sheila Mikhail, CEO and Co-Founder of AskBio.
Through the acquisition, Bayer will add an industry-leading adeno-associated
virus (AAV)-based gene therapy platform to its portfolio, which has
already demonstrated applicability across different therapeutic areas.
Besides multiple clinical-stage assets for indications with high unmet
need, the acquisition includes a state-of-the-art gene therapy
technology platform as well as existing gene therapy manufacturing
platform.
Gene therapy offers new treatment options for many currently untreatable
diseases, particularly genetic diseases caused by a single genetic
defect.
AskBio’s gene therapy platform includes an industry-leading cell line
manufacturing process and an extensive AAV capsid and promoter library.
The company has generated hundreds of proprietary third generation AAV
capsids and promoters that offer differentiation through potentially
improved efficacy, immune response and tissue and organ specificity. The
platform represents one of the most advanced gene therapy platforms with
the promise to also tackle polygenetic indications thereby also helping
a larger number of patients. AskBio’s lead research programs, which are
focused on Pompe disease, Parkinson’s disease and congestive heart
failure are currently in early phases of clinical development.
To preserve its entrepreneurial culture as an essential pillar for
nurturing successful innovation, AskBio will continue to operate as an
independent company on an arm’s-length basis. Bayer's newly established
CGT unit will bundle Bayer's activities in this area moving forward in
order to establish an innovation ecosystem for the participating
partners within the Bayer organization.
Closing of the transaction is contingent on customary closing
conditions, including receipt of the required regulatory approvals, and
is expected to take place during the fourth quarter of 2020.
Credit Suisse is serving as financial advisor to Bayer, while Baker
McKenzie is serving as legal counsel. JP Morgan is serving as financial
advisor to AskBio, while Ropes & Gray is serving as legal counsel.
About AskBio
Founded in 2001, Asklepios BioPharmaceutical, Inc. (AskBio) is a
privately held, clinical-stage gene therapy company dedicated to
improving the lives of children and adults with genetic disorders.
AskBio’s gene therapy platform includes an industry-leading proprietary
cell line manufacturing process called Pro10™ and an extensive adeno-associated
virus (AAV) capsid and promoter library. Based in Research Triangle
Park, North Carolina, the company has generated hundreds of proprietary
third generation AAV capsids and promoters, several of which have
entered clinical testing. An early innovator in the space, the company
holds more than 500 patents in areas such as AAV production and chimeric
and self-complementary capsids. AskBio maintains a portfolio of clinical
programs across a range of neurodegenerative, neuromuscular and
cardiovascular indications with a current clinical pipeline that
includes therapeutics for Pompe disease, Parkinson’s disease and
congestive heart failure, as well as out-licensed clinical indications
for hemophilia and Duchenne muscular dystrophy.
プラットフォームと開発パイプラインを実現するために、両社は、バイオテクノロジー会社のシリーズ A ファイナンスとして過去最大規模の 2億 2,500万
US ドルを確保する。ブこの資金によって少なくとも 4
年間の準備期間と、数々のプログラムを臨床段階に進めることが可能になり、循環器系疾患と神経変性疾患に初期の重点を置く。
CureVac and Bayer
join forces on COVID-19 vaccine candidate CVnCoV
Companies enter into a collaboration and
services agreement / Bayer to support CureVac in numerous areas,
including development and supply of CVnCoV / CureVac benefits from
Bayer´s expertise and established infrastructure / Plan to facilitate
the supply of several hundred million doses
Bayer has signed a collaboration and services
agreement with CureVac N.V., a biopharmaceutical company developing a new class
of transformative medicines based on messenger ribonucleic acid (mRNA). Under
the terms of the agreement, Bayer will support the further development, supply
and key territory operations of CureVac´s COVID-19 vaccine candidate CVnCoV. To
this end, Bayer will contribute its expertise and established infrastructure in
areas such as clinical operations, regulatory affairs, pharmacovigilance,
medical information, supply chain performance as well as support in selected
countries.
“The need for vaccines against COVID-19 is enormous. We are therefore pleased to
be able to provide significant support to CureVac, a leader in mRNA technology,
in advancing the further development and supply of its COVID-19 vaccine
candidate,” said Stefan Oelrich, Member of the Board of Management, Bayer AG and
President of the Bayer’s Pharmaceuticals Division. “We are highly committed to
making our capabilities and networks available to help end this pandemic.”
“We are very happy to join forces with Bayer, whose expertise and infrastructure
will help us make our vaccine candidate CVnCoV even more rapidly available to as
many people as possible,” said Dr. Franz-Werner Haas, Chief Executive Officer of
CureVac. “Building on the positive data we have seen so far with CVnCoV, we now
also have another strong partner on our side to get the vaccine to the people
who need it following the receipt of the requisite regulatory approvals.”
Based on the collaboration agreement, CureVac will be the
Marketing Authorization Holder for the product, while
Bayer will support CureVac with country operations within
the European Union (EU) and selected additional markets. Bayer holds
further options to become Marketing Authorization Holder
in other markets outside of Europe. The companies plan to combine their
strengths for CureVac to be in a position to supply hundreds of millions of
CVnCoV doses around the world, once approvals are granted. Together both
companies aim to play a meaningful role to contribute to stop the COVID-19
pandemic.
CureVac is currently expanding its partner network for the development,
production and distribution of its vaccine candidate. In November 2020, the
company announced that it would ramp up its European manufacturing network,
working with Wacker and Fareva, amongst others. On December 14, 2020 the company
achieved another milestone in the development of CVnCoV with the start of its
global pivotal Phase 2b/3.
Bayer to sell its
Environmental Science Professional business to Cinven for 2.6 billion U.S.
dollars
Bayer and Cinven have entered into a
definitive agreement regarding the sale of Bayer’s
Environmental Science Professional business for a purchase price
of 2.6 billion U.S. dollars (2.4 billion
euros), Bayer announced on Thursday. “This divestment represents a very
attractive purchase price and allows us to focus on our core
agricultural business and the successful implementation of our Crop
Science Division growth strategy,” said Rodrigo Santos, Member of the
Board of Management of Bayer AG and President of the Crop Science
Division.
Environmental Science Professional is a
global leader offering environmental solutions to
control pests, diseases and weeds
in non-agricultural areas
such
as vector control, professional pest management,
vegetation management, forestry, and turf and ornamentals. In
2021, the business had approximately 800 employees supporting operations
and sales in more than 100 countries. It is headquartered in Cary, North
Carolina, USA. Bayer had announced its decision to divest the business
in February 2021.
“Driven by a shared belief in people and purpose, Cinven will enable the
Environmental Science Professional business to advance towards its
vision of healthy environments for everyone, everywhere. We are
convinced by Cinven’s focus and its commitment to the long-term growth
potential for the business and its people,” Santos said. The transaction
is expected to close in the second half of this year, subject to the
satisfaction of customary closing conditions. Its net proceeds are to be
used to reduce Bayer’s net financial debt.
“Bayer’s Environmental Science Professional business is a global leader
in a highly attractive and critical industry. We thank Bayer for the
trust they have placed in Cinven and plan to build on the strong
foundations established by Bayer by significantly investing in it,” said
Pontus Pettersson, Partner and Head of Industrial at Cinven. “As a
long-established global investment firm, Cinven is well positioned to
continue to drive innovation and accelerate growth at Environmental
Science Professional, including the delivery of digital and data-enabled
solutions, as well as make the business more agile in responding to the
unique needs of its markets and customers.”
BofA Securities acted as financial advisor to Bayer, while Hengeler
Mueller acted as legal advisor.
About Cinven
Cinven is a leading international private equity
firm focused on building world-class global companies. Its funds
invest in six key sectors: Business Services, Consumer, Financial
Services, Healthcare, Industrials and TMT (Technology, Media and
Telecommunications). Cinven has offices in London, New York, Frankfurt,
Paris, Milan, Madrid, Guernsey and Luxembourg. Cinven takes a
responsible approach towards its portfolio companies, their employees,
suppliers, local communities, the environment and society
November 20, 2023 Reuters
Bayer ordered to pay $1.56 billion in latest US trial loss over Roundup
weedkiller
A Missouri jury ordered Bayer to pay $1.56 billion to four plaintiffs who
claimed the company's Roundup weedkiller caused injuries including cancer, a
verdict that could intensify investor pressure on the German drugs and
agricultural chemicals company to change its legal strategy.
The Cole County, Missouri jury found on Friday that Bayer's Monsanto business
was liable for claims of negligence, design defects and failing to warn
plaintiffs of the potential dangers of using Roundup, according to court
documents.
Valorie Gunther of New York, Jimmy Draeger of Missouri and Daniel Anderson of
California were awarded a combined $61.1 million in compensatory damages and
$500 million each in punitive damages. Each was diagnosed with non-Hodgkin
lymphoma that they alleged was caused by using Roundup on their family property.
Draeger's wife Brenda was awarded $100,000 for the harm she allegedly suffered
from her husband's disease.
The punitive damages could be reduced on appeal as it exceeds U.S. Supreme Court
guidance.
Bayer has said that decades of studies have shown Roundup and its active
ingredient, glyphosate, are safe for human use.
The verdict is the fourth straight loss in court for Bayer, after the company
had been found not liable to plaintiffs in nine consecutive trials. Earlier this
month, Union Investment, one of Bayer's top 10 shareholders, called on the
company to consider trying to engage with plaintiffs to settle more cases.
Bart Rankin, partner at Forrest Weldon which represented the plaintiffs, said in
a statement the victory was the first of many on behalf of thousands of
plaintiffs.
Bayer said in a statement that it has strong arguments to get the recent
verdicts overturned on appeal.
It said in the recent trials that have gone against the company, courts have
improperly permitted plaintiffs to misrepresent the European Union's renewal
process for glyphosate and the safety assessment by the U.S. Environmental
Protection Agency.
The EU Commission said last week it would renew its approval of glyphosate based
on safety assessments of the European Food Agency and European Chemicals Agency
after EU member states failed to give a clear opinion on the renewal.
Around 165,000 claims have been made against the company for personal injuries
allegedly caused by Roundup, which Bayer acquired as part of its $63 billion
purchase of agrochemical company Monsanto in 2018.
In 2020, Bayer settled most of the then-pending Roundup cases for
up to $10.9 billion. Around 50,000 claims remain pending, according to
regulatory filings.
1st November, 2024
Report claims Bayer’s new Roundup products
more toxic than previous versions
A new report by environmental health advocacy group Friends of the Earth
(FOE) claims new types of German chemical giant Bayer’s Roundup weed
killing products marketed to US consumers pose more health risks than
earlier versions, The New Lede reports.
FOE’s analysis was disputed by Bayer,
which it described as “deeply flawed”, the 22 October report said.
In its report, FOE said it found four
chemicals recently added to Roundup products were scientifically proven to
cause a range of health problems, including reproductive defects, kidney and
liver damage and neurotoxicity.
The analysis followed Bayer’s pledge that
it would remove glyphosate from its Roundup herbicide
products sold for residential lawn and garden use starting in 2023,
The New Lede wrote.
Bayer, which acquired US agrochemical
company Monsanto in 2018, made the pledge to try to curtail the filing of
future litigation as it battles thousands of lawsuits filed against Monsanto
by cancer patients who claim they developed non-Hodgkin lymphoma from using
Monsanto’s Roundup and other glyphosate-based herbicides, the report said.
Bayer, which acquired Roundup as part of
its US$63bn acquisition of US agrochemical company Monsanto in 2018, was
facing thousands of lawsuits filed against Monsanto by cancer patients who
claim they developed non-Hodgkin lymphoma from using Roundup and other
glyphosate-based herbicides, the report said.
But FOE said it found the chemicals used
in the new Roundup formulations were, on average, 45 times more toxic to
humans experiencing chronic exposure than glyphosate-based Roundup. The
chemicals were around four times more acutely toxic, the group said.
In addition, all four of the added
chemicals posed greater risk of long-term and/or reproductive health
problems compared to glyphosate, based on the Environmental Protection
Agency’s (EPA) evaluation of safety studies, FOE said.
Of the four chemicals found in the
products – diquat dibromide, fluazifop-P-butyl,
triclopyr, and imazapic – diquat dibromide is
of the most concern, according to FOE.
With long term exposure, the chemical,
which is banned in the European Union, was 200 times more toxic than
glyphosate, the group said.
It was also 27 times more toxic in acute
exposures, the group said.
Kendra Klein, FOE deputy director for
science and an author of the report, said the EPA should be providing
stronger oversight.
Bayer was quoted as saying the report was
factually incorrect and out of line with regulatory assessments for
measuring risk.
“A recent … report contains
false claims about the active ingredients in Roundup Lawn & Garden products.
The active ingredients in all Roundup Lawn & Garden products have been
thoroughly studied, reviewed and approved by independent experts at the
Environmental Protection Agency (EPA) and used safely and effectively in
many different weed-control products from a variety of companies for
decades,” the company said in a statement.
“The report reaches its … conclusion
through a methodology that is entirely inconsistent with how leading
regulatory and health experts measure risk in how people use these products
in the real world and in accordance with the label.”
The EPA had not responded to a request
for comment, The New Lede wrote.