WE HAVE KEPT OUR PROMISE- CEO OF BAYER THERAPEUTICS.

WE HAVE KEPT OUR PROMISE- CEO OF BAYER THERAPEUTICS.

According to Wener Baumann, Bayer’s stock performance in 2018 was “very disappointing”. Operationally, the company experienced a difficult market environment in 2018, with significant negative currency effects and growing uncertainty caused by global trade disputes.

While the DAX was down 18 percent in 2018, the company’s share price dropped by almost 40 percent. Additionally, on Aug. 10, 2018, a California jury ordered Monsanto to pay $289 million after determining that the company’s Roundup weed killer caused a man’s cancer. Wener believes although it was these topics that dominated the headlines, he believed it was important to emphasize that last year they again kept their company’s main promise – ‘Science for a better life’ – millions of times over, he said. He further added that their products have helped to improve the lives of their customers – patients, consumers, and farmers. “That is what defines us, and that is what drives our actions.” He said.

Mr. Baumann said Bayer’s success in the coming years will depend partly on accomplishing the integration at Crop Science and on adjusting the innovation model in its pharmaceuticals business, which will put Bayer in the best possible position to deliver long-term value creation as a world-leading life science company. The company is planning to invest €35 billion ($41.36 billion) in its future business models through 2022, with research and development accounting for over two-thirds of this figure.

In September 2019, Bayer made a major announcement of actions designed to take the company into the future. The SB (Supervisory Board) of Bayer AG decided to reduce the size of the company’s Board of Management from seven to five members. Dr.Hartmut Klusik and Kemal Malik will leave the company as of December 31, 2019. As part of the previously communicated efficiency measures, neither position will be retained.

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