米トウモロコシの対中輸出を急減させたとして物議を醸している遺伝子組み換えトウモロコシについて、中国農業省が輸入解禁を認めた。トム・ビルサック米農務長官が17日、明らかにした。

中国は昨年11月以来、米国産トウモロコシの一部にスイスのバイオ大手 シンジェンタが開発した遺伝子組み換えトウモロコシが含まれていることが判明したとして、米国産トウモロコシの輸入を拒否してきた。シンジェンタは遺伝子組み換えトウモロコシを2011年から米農家に販売していたが、中国からはまだ承認を得られていなかった。

穀物輸出会社と農家は、中国の輸入禁止をめぐってシンジェンタを提訴している。中国が米国産トウモロコシを積んだ貨物船の受け入れを拒否したため、数千万ドルの売り上げが失われ、トウモロコシ価格が落ち込んだと主張する。

しかし、輸入解禁が認められたことで1年に及ぶ難局は転機を迎えそうだ。ただし、解禁によって中国への輸出量がすぐに以前の水準にまで回復するとは期待できない。

ビルサック長官は17日、中国の汪洋副首相がシカゴで今週開催されている合同商業貿易委員会（JCCT）の会合で輸入解禁を認めたことを明らかにした。中国は独医薬品大手バイエルと米化学大手デュポンがそれぞれ開発した遺伝子組み換え大豆の2変種も承認したという。

シンジェンタの広報担当者は、中国から正式な承認書類を受け取るまでコメントは控えると述べた。同社は12日、中国から「近い将来」承認が得られる見通しを示していた。同社が開発した遺伝子組み換えトウモロコシは害虫を殺すタンパク質を生成する点が特徴で、10年に中国規制当局に承認を申請していた。

中国は約4年前、急速に米国産トウモロコシの大きな買い手となったため、米国にとって今年のトウモロコシ輸出の急減は一段とこたえた。アナリストは、中国の輸入解禁後も、近い将来に米国産トウモロコシの新規大口契約が急増する公算は小さいとみている。中国では最近、価格維持制度の拡大で国内のトウモロコシ生産が増加し、大量の備蓄を抱えている。米農務省は今月、中国のトウモロコシ備蓄量は15年8月末までに7870万トンに達するとの予測を示した。

　

Nov 9, 2023

Bayer considers company breakup

Bayer confirmed in an investor call on Wednesday (Nov. 8, 2023) the company is considering splitting business units following poor financial results.

"We are redesigning Bayer to focus only on what’s essential for our mission – and getting rid of everything else,” according to Bayer CEO Bill Anderson. Anderson, who has been at the company’s helm since June, says by the end of next year, Bayer will remove multiple layers of management and coordination. The company ruled out splitting into three divisions, but other options remain. Anderson adds, “In terms of structural options, beyond maintaining three divisions, a separation of either Consumer Health or Crop Science remains under evaluation.”

Sales in the agricultural business were level year on year at 4.3 billion euros. Higher volumes in all regions were mostly offset by lower prices for glyphosate-based. Corn Seed and Traits sales rose by 21.2, while Fungicides were up 16.2 percent. The Soybean Seed and Traits business likewise posted double-digit percentage growth of 15.6 percent. By contrast, sales at Herbicides were down by 17.3 percent.

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Reuters

Bayer weighs break-up options as management job cuts loom

  • New CEO considers separating consumer or agriculture unit
  • Staggered three-way split is also an option
  • Q3 operating profit falls more than expected
  • Bayer says 2024 profitability faces challenges
  • CEO to cut management jobs, confirms Reuters report

Bayer is considering breaking apart from its consumer health or crop science divisions, it said on Wednesday, as new CEO Bill Anderson gave his initial thoughts on how to revive the diversified German company's battered share price.

Management is looking into separating either the non-prescription medicines business or the agriculture business from the rest of the group which includes pharmaceuticals, but not at the same time, Bayer said in a statement.

A sequential split into three companies is also an option, as is keeping all three divisions, said Anderson.

Initial public share offerings or spin-offs without raising cash were among the options, he said in a media call, but added further details would be withheld until a capital markets day next March.

"We are not wedded to one structure. We will pursue the best course to ensure maximum value creation," the CEO said, adding that all members of Bayer’s supervisory board backed the review.

The German maker of medicines, seeds and crop chemicals also unveiled plans to remove several layers of management to accelerate decision-making, resulting in a "significant reduction" in the workforce, confirming a Reuters report from September.

Anderson said that 12 layers of management between him and customers were "simply too much".

Bayer shares were down 1% at 1110 GMT, after rising as much as 1.2% in early trade as analysts weighed up the company's cautious guidance on business in 2024 against the prospect of an organisational turnaround.

Bayer said that it expects a "soft growth outlook and continued challenges" to profitability next year. It also expressed confidence in its 2023 financial guidance but said a strong fourth quarter was needed.

"A separation of Consumer Health would be the easiest way to generate value. For Bayer it would mean following an industry trend," said Markus Manns, a fund manager at Union Investment.

Major drugmakers Johnson & Johnson and partners GSK and Pfizer split off consumer products units this year and last. Sanofi last month mapped out a likely separate listing of its consumer healthcare business.

Bayer's agriculture, prescription drugs and consumer health care units accounted for about 50%, 38% and 12% of 2022 group sales, respectively.

Anderson, who joined from Swiss drugmaker Roche and took the helm in June, is under pressure to boost shares that have underperformed those of peers, prompting investors to call for various forms of a break-up.

He has previously pledged to leave "no stone unturned" in his review of the 160-year-old German group and inventor of aspirin.

His appointment was widely welcomed by shareholders after predecessor Werner Baumann drew criticism for not responding to market concerns. But some investors have already urged Anderson to act quicker to address the continued share price slump.

Analysts have said Bayer shares are trading at a massive discount to rivals in agriculture, pharmaceuticals and consumer health activities, partly weighed down by a preference among many financial investors for pure-play companies.

U.S. lawsuits over the alleged carcinogenic effect of its commonly used Roundup weedkiller are another burden on the stock, which before Wednesday was down about 13% this year.

2018/8/28　Bayer のMonsanto買収完了と、Monsantoの除草剤への賠償命令判決　

Bayer reported third-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) and adjusted for one-off effects fell 31% to 1.685 billion euros, hit by lower earnings at its crop science division. That compared with analysts' average forecast of 1.725 billion euros.

It made a quarterly net loss of 4.57 billion euros against a profit of 546 million euros a year earlier, hit by impairment charges at the crop science unit due to higher interest rates.

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 2023/3Q 実績

単位：百万ユーロ　　EBITは金利・税引前損益     「その他」があり、合計は合わない。

　 Crop Science Pharmaceuticals Consumer Health 全社
2022/Q3 2023/Q3 2022/Q3 2023/Q3 2022/Q3 2023/Q3 2022/Q3 2023/Q3
Sales 4,692 4,365 4,955 4,538 1,548 1,410 11,281 10,342
EBIT 合計 53 -4,573 1,152 1,183 239 213 1,199 -3,594
　　特別 -10 -3,964 -71 -20 -4 -8 -153 -4,303
　除く特別 63 -609 1,223 1,203 243 221 1,352 709

　　　　Crop Scienceの特別損失は主にのレンの減損

         Consumer Health はnon-prescription medicines business　　　　　

  • Skin protection and care
  • Nutritional supplements
  • Pain
  • Cardiovascular disease prevention
  • Digestive Health
  • Cough and cold
  • Allergies