Operations
To separate operational and strategic managements, Bayer AG was reorganized into a holding company in December 2003. The group's core businesses were transformed into limited companies, each controlled by Bayer AG. These companies are: Bayer CropScience AG; Bayer HealthCare AG; Bayer MaterialScience AG and Bayer Chemicals AG, and the three service limited companies Bayer Technology Services GmbH, Bayer Business Services GmbH and Bayer Industry Services GmbH & Co. OHG. Bayer AG shares are listed on the Frankfurt Stock Exchange, the London Stock Exchange and previously on the New York Stock Exchange.
Following the reorganization, its chemicals activities (with the exception of H.C. Starck and Wolff Walsrode) were combined with certain components of the polymers segment to form the new company Lanxess on 1 July 2004. Lanxess was listed on the Frankfurt Stock Exchange in early 2005. Bayer HealthCare's Diagnostics Division was acquired by Siemens Medical Solutions in January 2007.
In 2004, Bayer HealthCare AG acquired the over-the-counter (OTC) Pharmaceutical Division of Roche Pharmaceuticals.
On 13 March 2006, Merck KGaA announced a €14.6bn bid for Schering AG. Merck's takeover bid was surpassed by Bayer's $19.5bn bid on 23 March 2006.
On 11 March 2008, Bayer HealthCare announced an agreement to acquire the portfolio and OTC division of privately owned Sagmel, Inc., a US-based company that markets OTC medications in most of the Commonwealth of Independent States countries such as Russia, Ukraine, Kazakhstan, Belarus, and others.
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Famous quotes containing the word operations:
“There is a patent office at the seat of government of the universe, whose managers are as much interested in the dispersion of seeds as anybody at Washington can be, and their operations are infinitely more extensive and regular.”
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