Bayer AG ( or ); German pronunciation: ['ba???]) is a German multinational, pharmaceutical and life sciences company. It is headquartered in Leverkusen, where its illuminated sign is a landmark. Bayer's primary areas of business include human and veterinary pharmaceuticals; consumer healthcare products; agricultural chemicals and biotechnology products; and high value polymers. The company is a component of the Euro Stoxx 50 stock market index. The company's motto is "science for a better life."
Bayer's first and best known product was aspirin; there is a dispute about what scientist at Bayer made the most important contributions to it, Arthur Eichengrün or Felix Hoffmann. Bayer trademarked the name "heroin" for the drug diacetylmorphine and marketed it as a cough suppressant and non-addictive substitute for morphine from 1898 to 1910. Bayer also introduced phenobarbital, prontosil, the first widely used antibiotic and the subject of the 1939 Nobel Prize in Medicine, the antibiotic Cipro (ciprofloxacin), and Yaz (drospirenone) birth control pills. In 2014 Bayer bought MSD's consumer business, with brands such as Claritin, Coppertone and Dr. Scholl's. Its BayerCropscience business develops genetically modified crops and pesticides. Its materials science division makes polymers like polyurethanes and polycarbonate.
Bayer was founded in Barmen in 1863. It was part of IG Farben, the world's largest chemical and pharmaceutical company, from 1925 to 1952, and then again became an independent company. The company played a key role in the Wirtschaftswunder during the early Cold War and quickly regained its position as one of the world's largest chemical and pharmaceutical corporations. Bayer acquired Schering in 2006 and announced its acquisition of Monsanto in 2016.
Video Bayer
History
Early history
Bayer AG was founded in Barmen (today a part of Wuppertal), Germany in 1863 by Friedrich Bayer and his partner, Johann Friedrich Weskott. Corresponding to his education Friedrich Bayer was responsible for commercial tasks at the young company. Wescott had an apprenticeship as dyer, which gave him knowledge in chemistry. Fuchsine and aniline became the most important products of the company.
The headquarters and most production facilities moved from Barmen to a larger areal in Elberfeld in 1866. Friedrich Bayer (1851 - 1920), son of the company's founder Friedrich Bayer, was a chemist, and joined the company in 1873. After the death of his father in 1881, the company was changed into a joint-stock-company named Farbenfabriken vorm. Friedr. Bayern & Co. The company was called Elberfelder Farbenfabriken, too.
A further expansion in Elberfeld was impossible. For this reason a new location was needed. The company moved to the small village Wiesdorf at Rhein and settled at the area of the alizarin producer Leverkus and Sons. A new city was founded at that place in 1930, and as new name for this city Leverkusen was chosen.
The company's corporate logo, the Bayer cross, was introduced in 1904. It consists of the horizontal word "BAYER" crossed with the vertical word "BAYER," both words sharing the "Y", and enclosed in a circle. An illuminated version of the logo is a landmark in Leverkusen, the location of Bayer AG's headquarters.
Aspirin
Bayer's first major product was acetylsalicylic acid (originally discovered by French chemist Charles Frederic Gerhardt in 1853), a modification of salicylic acid or salicin, a folk remedy found in the bark of the willow plant. By 1899, Bayer's trademark Aspirin was registered worldwide for Bayer's brand of acetylsalicylic acid, but "Aspirin" lost its trademark status in the United States, France, and the United Kingdom because of the confiscation of Bayer's US assets and trademarks during World War I by the United States and the subsequent widespread usage of the word to describe all brands of the compound. It is now widely used in the US, UK, and France for all brands of the drug. However, it is still a registered trademark of Bayer in more than 80 other countries, including Canada, Mexico, Germany, and Switzerland. As of 2011, approximately 40,000 tons of aspirin are produced each year and 10-20 billion tablets are taken in the United States alone each year for prevention of cardiovascular events. It is on the WHO Model List of Essential Medicines, the most important medications needed in a basic health system.
There has been controversy over the roles played by Bayer scientists in the development of aspirin. Arthur Eichengrün, a Bayer chemist, claimed to be the first to discover an aspirin formulation which did not have the unpleasant side effects of nausea and gastric pain. Eichengrün also claimed that he invented the name aspirin and was the first person to use the new formulation to test its safety and efficacy. Bayer contends that aspirin was discovered by Felix Hoffmann to alleviate the sufferings of his father, who had arthritis. Various sources support the conflicting claims. Most mainstream historians attribute the invention of aspirin to Felix Hoffmann and/or Arthur Eichengrün.
Heroin
Heroin (diacetylmorphine), now illegal as an addictive drug, was trademarked and marketed by Bayer as a cough suppressant and non-addictive substitute for morphine from 1898 to 1910. Bayer scientists were not the first to make heroin, but their scientists discovered ways to make it, and Bayer led commercialization of heroin. Heroin was a Bayer trademark until after World War I.
Phenobarbital
In 1903, Bayer licensed the patent for the hypnotic drug diethylbarbituic acid from its inventors Emil Fischer and Joseph von Mering. It was marketed under the trade name Veronal as a sleep aid beginning in 1904. Systematic investigations of the effect of structural changes on potency and duration of action at Bayer led to the discovery of phenobarbital in 1911 and the discovery of its potent anti-epileptic activity in 1912. Phenobarbital was among the most widely used drugs for the treatment of epilepsy through the 1970s, and as of 2014, remains on the World Health Organization's list of essential medications.
Prior to World War II
As part of the reparations after World War I, Bayer assets, including the rights to its name and trademarks, were confiscated in the United States, Canada, and several other countries. In the United States and Canada, Bayer's assets and trademarks were acquired by Sterling Drug, a predecessor of Sterling Winthrop. In 1994, Bayer AG purchased Sterling Winthrop's over-the-counter drug business from SmithKline Beecham and merged it with Miles Laboratories, thereby reclaiming the U.S. and Canadian trademark rights to "Bayer" and the Bayer cross, as well as the ownership of the Aspirin trademark in Canada.
In 1916 Bayer scientists discovered suramin, an anti-parasite drug that is still sold by Bayer under the brand name Germanin. The formula of suramin was kept secret by Bayer for commercial reasons; however, it was elucidated and published in 1924 by Ernest Fourneau and his team of the Pasteur Institute. It is on the World Health Organization's List of Essential Medicines.
Bayer became part of IG Farben, a German chemical company conglomerate, in 1925. In the 1930s, IG Farben scientists Gerhard Domagk, Fritz Mietzsch, and Joseph Klarer, discovered prontosil, the first commercially available antibacterial drug. The discovery and development of this first sulfonamide drug opened a new era in medicine. Domagk received the Nobel Prize in Medicine for this work in 1939.
World War II
During World War II, IG Farben used slave labor in factories that it built adjacent to German concentration camps, notably Auschwitz, and the sub-camps of the Mauthausen-Gusen concentration camp. IG Farben purchased prisoners for human experimentation of a sleep-inducing drug and later reported that all test subjects died. IG Farben employees frequently said, "If you don't work faster, you'll be gassed." IG Farben held a large investment in Degesch which produced Zyklon B used to gas and kill prisoners during the Holocaust.
After World War II, the Allies broke up IG Farben and Bayer reappeared as an individual business "inheriting" many of IG Farben's assets. Fritz ter Meer, an IG Farben board member from 1926 to 1945 who directed operations at the IG Farben plant at Auschwitz, was sentenced to seven years in prison during the IG Farben Military Tribunal at Nuremberg. He was elected Bayer's supervisory board head in 1956.
In 1995, Helge Wehmeier, the head of Bayer Corporation, publicly apologized to Elie Wiesel for the company's involvement in the Holocaust at a lecture in Pittsburgh.
Post World War II
In 1953 Bayer brought the first neuroleptic (Chlorpromazine) onto the German market.
In the 1960s, Bayer introduced a pregnancy test, Primodos, that consisted of two pills that contained norethisterone (as acetate) and ethinylestradiol. It detected pregnancy by inducing menstruation in women who were not pregnant. The presence or absence of menstrual bleeding was then used to determine whether the user was pregnant. The test became the subject of controversy when it was blamed for birth defects, and it was withdrawn from the market in the mid-1970s. Litigation in the 1980s regarding these claims ended inconclusively. A review of the matter by the Medicines and Healthcare Products Regulatory Agency in 2014 assessed the studies performed to date, and concluded that it found the evidence for adverse effects to be inconclusive.
In 1978, Bayer purchased Miles Laboratories and its subsidiaries Miles Canada and Cutter Laboratories, acquiring along with them a variety of product lines including Alka-Seltzer, Flintstones vitamins and One-A-Day vitamins, and Cutter insect repellent.
Along with the purchase of Cutter, Bayer acquired Cutter's Factor VIII business. Factor VIII, a clotting agent used to treat hemophilia, was produced, at the time, by processing donated blood. In the early days of the AIDS epidemic, people with hemophilia were found to have higher rates of AIDS, and by 1983 the CDC had identified contaminated blood products as a source of infection. According to the New York Times, this was "one of the worst drug-related medical disasters in history." Companies, including Bayer, developed new ways to treat donated blood with heat to decontaminate it, and these new products were introduced early in 1984. In 1997, Bayer and the other three makers of such blood products agreed to pay $660 million to settle cases on behalf of more than 6,000 hemophiliacs infected in United States. But in 2003, documents emerged showing that Cutter had continued to sell unheated blood products in markets outside the US until 1985.
In the late 1990s, Bayer introduced a statin drug, Baycol (Cerivastatin) but after 52 deaths were attributed to it, Bayer discontinued it in 2001. The side effect was rhabdomyolysis, causing renal failure, which occurred with a tenfold greater frequency in patients treated with Baycol in comparison to those prescribed alternate medications of the statin class.
Bayer has been involved in controversies regarding some of its other drug products; Trasylol (aprotinin), used to control bleeding during major surgery, was withdrawn from the markets worldwide when reports of increased mortality emerged; it was later re-introduced in Europe but not in the US.
2000-2009
In 2004, Bayer HealthCare AG acquired the over-the-counter (OTC) Pharmaceutical Division of Roche Pharmaceuticals.
In 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. On 2 November 2010, Bayer AG signed an agreement to buy Auckland-based animal health company Bomac Group.
Bayer partnered on the development of the radiotherapeutic Xofigo with Algeta, and in 2014 moved to acquire the company for about $2.9 billion. In 2014, Bayer agreed to buy Merck's consumer health business for $14.2 billion which would provide Bayer control with brands such as Claritin, Coppertone and Dr. Scholl's. Bayer would attain second place globally in nonprescription drugs. In June 2015, Bayer agreed to sell its diabetic care business to Panasonic Healthcare Holdings for a fee of $1.02 billion.
Acquisition of Schering
In March 2006, Merck KGaA announced a EUR14.6bn bid for Schering AG, which had been founded in 1851 and by 2006 had annual gross revenue of around EUR5 billion and employed about 26,000 people in 140 subsidiaries worldwide. Bayer responded with a white knight bid and in July acquired the majority of shares of Schering for EUR14.6bn, and in 2007, Bayer took over Schering AG and formed Bayer Schering Pharma. The acquisition of Schering was the largest take-over in Bayer's history, and as of 2015 this was one of the ten biggest pharma mergers of all time.
2010 onwards
Spin off of Covestro
In September 2015, Bayer spun out its $12.3 billion materials science division into a separate, publicly traded company called Covestro in which it retained about a 70% interest. Bayer spun out the division because it had relatively low profit margins compared to its life science divisions (10.2%, compared with 24.9% for the agriculture business and 27.5% for healthcare) and because the business required high levels of investment to maintain its growth, and to more clearly focus its efforts and identity in the life sciences. Covestro shares were first offered on the Frankfurt Stock Exchange in October 2015.
Effective January 2016 following the spinout of Covestro, Bayer rebranded itself as a life sciences company, and restructured into three divisions: Pharmaceuticals, Consumer Health, and Crop Science, which had an Animal Health business unit.
Acquisition of Monsanto
In May 2016, Bayer offered to buy U.S. seeds company Monsanto for $62 billion. Shortly after Bayer's offer, Monsanto rejected the acquisition bid, seeking a higher price. Bayer attempted to purchase Monsanto again for $66 billion in September 2016, Monsanto accepted this bid and the merger is pending approval. As part of the takeover, Bayer agreed to sell both of its Liberty herbicide and LibertyLink seeds businesses in order for the deal to pass South Africa's Competition Commission. The divisions being divested had sales worth an estimated $2.5 billion In October 2017, Bayer announced it would sell its seed and herbicide businesses to BASF for EUR5.9 billion ($7 billion). On 21 March 2018, Bayer cleared EU hurdle for Monsanto deal with BASF sale.
Acquisition history
The following is an illustration of the company's major mergers, acquisitions and historical predecessors:
Maps Bayer
Corporate structure
In 2003, to separate operational and strategic managements, Bayer AG was reorganized into a holding company. The group's core businesses were transformed into limited companies, each controlled by Bayer AG. These companies were: 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. In 2016, the company began a second restructuring with the aim of allowing it to transition to a life sciences based company. By divesting its Chemicals division in 2004 and with the aim of off-loading its Materials division by mid-2016, Bayer will be left with the four core units, as depicted below.
Bayer CropScience
Bayer CropScience has products in crop protection (i.e. pesticides), nonagricultural pest control, seeds and plant biotechnology. In addition to conventional agrochemical business, it is involved in genetic engineering of food. In 2002, Bayer AG acquired Aventis (now part of Sanofi) CropScience and fused it with their own agrochemicals division (Bayer Pflanzenschutz or "Crop Protection") to form Bayer CropScience; the Belgian biotech company Plant Genetic Systems became part of Bayer through the Aventis acquisition. Also in 2002, Bayer AG acquired the Dutch seed company Nunhems, which at the time was one of the world's top five seed companies. In 2006, the U.S. Department of Agriculture announced that Bayer CropScience's LibertyLink genetically modified rice had contaminated the U.S. rice supply. Shortly after the public learned of the contamination, the E.U. banned imports of U.S. long-grain rice and the futures price plunged. In April 2010, a Lonoke County, Arkansas jury awarded a dozen farmers $48 million. The case is currently on appeal to the Arkansas Supreme Court. On 1 July 2011 Bayer CropScience agreed to a global settlement for up to $750 million. In September 2014, the firm announced plans to invest $1 billion in the United States between 2013 and 2016. A Bayer spokesperson said that the largest investments will be made to expand the production of its herbicide Liberty. Liberty is used to kill weeds which have grown resistant to Monsanto's product Roundup. In 2016, as part of the wholesale corporate restructuring, Bayer CropScience became one of the three major divisions of Bayer AG, reporting directly to the head of the division, Liam Condon.
Bayer CropScience Limited is the Indian subsidiary of Bayer AG. It is listed on the Indian stock exchanges viz. the Bombay Stock Exchange & National Stock Exchange of India and has a market capitalization of $2 billion. Bayer BioScience, headquartered in Hyderabad, India has about 400 employees, and has research, production and an extensive sales network spread across India.
Bayer Consumer Health
Before the 2016 restructuring, Bayer HealthCare comprises a further four subdivisions: Bayer Schering Pharma, Bayer Consumer Care, Bayer Animal Health and Bayer Medical Care. As part of the corporate restructuring, Animal Health was moved into its own business unit, leaving the division with the following categories; Allergy, Analgesics, Cardiovascular Risk Prevention, Cough & Cold, Dermatology, Foot Care, Gastrointestinals, Nutritionals and Sun Care.
Bayer Consumer Care manages Bayer's OTC medicines portfolio. Key products include analgesics such as Bayer Aspirin and Aleve, food supplements Redoxon and Berocca, and skincare products Bepanthen and Bepanthol. Women's healthcare is an example of a General Medicine business unit. Bayer Pharma produces the birth control pills Yaz and Yasmin. Both pills use a newer type of progesterone hormone called drospirenone in combination with estrogen. Yaz is advertised as a treatment for premenstrual dysphoric disorder (PMDD) and moderate acne. Other key products include the cancer drug Nexavar, the multiple sclerosis drug betaferon/betaseron and the blood-clotting drug, Kogenate. In May 2014 it was announced that Bayer would buy Merck & Co's consumer health care unit for $14.2 billion. Bayer also controls Dihon Pharmaceutical Group Co., Ltd in China.
Bayer Pharmaceuticals
The Pharmaceuticals Division focuses on prescription products, especially for women's healthcare and cardiology, and also on specialty therapeutics in the areas of oncology, hematology and ophthalmology. The division also comprises the Radiology Business Unit which markets contrast-enhanced diagnostic imaging equipment together with the necessary contrast agents.
In addition to internal R&D, Bayer has participated in public-private partnerships. One example in the area of non-clinical safety assessment is the InnoMed PredTox program. another is the Innovative Medicines Initiative of EFPIA and the European Commission.
Bayer Animal Health
Bayer HealthCare's Animal Health Division is the maker of Advantage Multi (imidacloprid + moxidectin) Topical Solution for dogs and cats, Advantage flea control for cats and dogs and K9 Advantix, a flea, tick, and mosquito control product for dogs. Advantage Multi, K9 Advantix and Advantage are trademarks of Bayer. The division specializes in parasite control and prescription pharmaceuticals for dogs, cats, horses, and cattle. North American operation for the Animal Health Division are headquartered in Shawnee, Kansas. Bayer Animal Health is a division of Bayer HealthCare LLC.
Bayer Business Services
Bayer Business Services located at the Bayer USA Headquarters in Robinson Township, Pennsylvania, a suburb of Pittsburgh, Bayer Business Services handles the information technology infrastructure and technical support aspect of Bayer USA and Bayer Canada. This is also the headquarters of the North American Service Desk, the central IT Help Desk for all of Bayer USA and Bayer Canada. Bayer Business Services also employs 4500 specialists in India. Bayer Technology Services is engaged in process development and in process and plant engineering, construction and optimization. Currenta offers services for the chemical industry, including utility supply, waste management, infrastructure, safety, security, analytics and vocational training and is a joint venture between Bayer and Lanxess.
Defunct business units
Bayer Chemicals AG (with the exception of H.C. Starck and Wolff Walsrode) was 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.
Bayer Diabetes Care manages Bayer's medical devices portfolio. Key products include the blood glucose monitors Contour Next EZ (XT), Contour, Contour USB and Breeze 2 used in the management of diabetes. The diabetes business unit was sold to Panasonic Healthcare Co. for $1.15 billion in June 2015
Bayer MaterialScience was a supplier of high-tech polymers, and developed solutions for a broad range of applications relevant to everyday life. On 18 September 2014, the Board of Directors of Bayer AG announced plans to float the Bayer MaterialScience business on the stock market as a separate entity. On 1 June 2015 Bayer announced that the new company would be named Covestro and Bayer formally spun out Covestro in September 2015.
Products
Current
Pharmaceutical
In 2014 pharmaceutical products contributed EUR12.05 billion of Bayer's EUR40.15 billion in gross revenue. Top-selling products included
- Kogenate (recombinant clotting factor VIII). Kogenate is a recombinant version of clotting factor VIII, the absence of deficiency of which causes the abnormal bleeding associated with haemophilia type A. Kogenate is one of several commercially available Factor VIII products having equivalent efficacy.
- Xarelto (rivaroxaban) is a small molecule inhibitor of Factor Xa, a key enzyme involved in blood coagulation. In the United States, the FDA has approved rivaroxaban for the prevention of stroke in people with atrial fibrillation, for the treatment of deep vein thrombosis and pulmonary embolism, and for the prevention of deep vein thrombosis in people undergoing hip surgery. Rivaroxaban competes with other newer generation anticoagulants such as apixaban and dabigatran as well as with the generic anticoagulant warfarin. It has similar efficacy to warfarin and is associated with a lower risk of intracranial bleeding, but unlike warfarin there is no established protocol for rapidly reversing its effects in the event of uncontrolled bleeding or the need for emergency surgery.
- Betaseron is an injectable form of the protein interferon beta used to prevent relapses in the relapsing remitting form of multiple sclerosis. Betaseron competes with other injectable forms of interferon beta, glatiramer acetate, and a variety of newer multiple sclerosis drugs, some of which can be taken orally (Dimethyl fumarate, teriflunomide, others).
- Yasmin / Yaz birth control pills are part of a group of birth control pill products based on the synthetic progesterone analog drospirenone. Yaz is approved in the United States for the prevention of pregnancy, to treat symptoms of premenstrual dysphoric disorder in women who choose an oral contraceptive for contraception, and to treat moderate acne in women at least 14 years of age who choose an oral contraceptive for contraception. The FDA has conducted a safety review regarding the potential of Yaz and other drospirenone-containing products to increase the risk of blood clots. Although conflicting results were obtained in different studies, the Agency added a warning to the label that Yaz and related products may be associated with an increased risk of clotting relative to other birth control pill products. Subsequently, a meta analysis suggested that birth control pills of the class Yasmin belongs to raise the risk of blood clots to a greater extent than some other classes of birth control pills.
- Nexavar (sorafenib) is a kinase inhibitor used in the treatment of liver cancer (hepatocellular carcinoma), kidney cancer (renal cell carcinoma), and certain types of thyroid cancer.
- Trasylol (Aprotinin) Trasylol is a trypsin inhibitor used to control bleeding during major surgery. In a 2006 meeting called by the FDA to review the drug's safety, Bayer scientists failed to reveal the results of an ongoing large study suggesting that Trasylol may increase the risks of death and stroke. According to a FDA official who preferred to remain anonymous, the FDA learned of the study only through information provided to the FDA by a whistleblowing scientist who was involved in it. The study concluded Trasylol carried greater risks of death, serious kidney damage, congestive heart failure and strokes. On 15 December of the same year the FDA restricted the use of Trasylol, and in November 2007 they requested that the company suspend marketing. In 2011, Health Canada lifted its suspension of Trasylol for its originally approved indication of limiting bleeding in coronary bypass surgery, citing flaws in the design of the studies that led to its suspension. This decision was controversial. In 2013 the European Medicines Agency lifted its suspension of the Trasylol marketing authorization for selected patients undergoing cardiac bypass surgery, citing a favorable risk-benefit ratio.
- Cipro (ciprofloxacin) Ciprofloxacin was approved by the US Food and Drug Administration (FDA) in 1987. Ciprofloxacin is the most widely used of the second-generation quinolone antibiotics that came into clinical use in the late 1980s and early 1990s. In 2010, over 20 million outpatient prescriptions were written for ciprofloxacin, making it the 35th-most commonly prescribed drug, and the 5th-most commonly prescribed antibacterial, in the US.
- Rennie antacid tablets, one of the biggest selling branded over-the-counter medications sold in Great Britain, with sales of £29.8 million.
Agricultural
Bayer produces various fungicides, herbicides, insecticides, and some crop varieties.
- Fungicides are primarily marketed for cereal crops, fresh produce, fungal with bacteria-based pesticides, and control of mildew and rust diseases. Nativo products are a mixture of trifloxystrobin tebuconazole. XPro products are a mix of bixafen and prothioconazole, while Luna contains fluopyram and pyrimethanil.
- Herbicides are marketed primarily for field crops and orchards. Liberty brands containing glufosinate are used for general weed control. Capreno containing a mixture of thiencarbazone-methyl and tembotrione is used for grass and broad-leaf control.
- Insecticides are marketed according to specific crop and insect pest type. Foliar insecticides include Belt containing flubendiamide, which is marketed against Lepidopteran pests, and Movento containing spirotetramat, which is marketed against sucking insects. Neonicotinoids such as clothianidin and imidacloprid are used as systemic seed treatments products such as Poncho and Gaucho. In 2008 neonicotinoids came under increasing scrutiny over their environmental impacts starting in Germany. Neonicotinoid use has been linked in a range of studies to adverse ecological effects, including honey-bee colony collapse disorder (CCD) and loss of birds due to a reduction in insect populations. In 2013, the European Union and a few non EU countries restricted the use of certain neonicotinoids. Parathion was discovered by scientists at IG Farben in the 1940s as an cholinesterase inhibitor insecticide. Its use is banned in most developed countries. Propoxur is a carbamate insecticide that was introduced by Bayer in 1959.
Bayer 04 Leverkusen
In 1904, the company founded the sports club TuS 04 ("Turn- und Spielverein der Farbenfabriken vorm. Friedr. Bayer & Co."), later SV Bayer 04 ("Sportvereinigung Bayer 04 Leverkusen"), finally becoming TSV Bayer 04 Leverkusen ("Turn- und Sportverein") in 1984, generally, however, known simply as Bayer 04 Leverkusen. The club is best known for its football team, but has been involved in many other sports, including athletics, fencing, team handball, volleyball, boxing, and basketball. TSV Bayer 04 Leverkusen is one of the largest sports clubs in Germany. The company also supports similar clubs at other company sites, including Dormagen (particularly handball), Wuppertal (particularly volleyball), and Krefeld-Uerdingen (featuring another former Bundesliga football club, SC Bayer 05 Uerdingen, now KFC Uerdingen 05).
Chemical accident
On 28 August 2008, an explosion occurred at the Bayer CropScience facility at Institute, West Virginia, United States. A runaway reaction ruptured a tank and the resulting explosion killed two employees. The ruptured tank was close to a methyl isocyanate tank which was undamaged by the explosion.
Awards and recognition
In October 2008, Bayer's Canadian division was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc. The Canadian division was named one of Greater Toronto's Top Employers by the Toronto Star newspaper. Bayer USA was given a score of 85 (out of 100) in the Human Rights Campaign's 2011 Corporate Equality Index, a measure of gay and lesbian workplace equality.
In 2016, Standard Ethics Aei has given a rating to Bayer in order to include the company in its Standard Ethics German Index. Bayer has received an EE- rating, which is the fourth tier in an eight tier ranking.
See also
- List of German companies
- List of pharmaceutical companies
Notes and references
Further reading
- Blaschke, Stefan (1999). Unternehmen und Gemeinde: Das Bayerwerk im Raum Leverkusen 1891-1914. Cologne: SH-Verlag, ISBN 3-89498-068-0
- Tenfelde, Klaus (2007). Stimmt die Chemie? : Mitbestimmung und Sozialpolitik in der Geschichte des Bayer-Konzerns. Essen: Klartext, ISBN 978-3-89861-888-5
External links
- Official website
- "The original Bayer Aspirin". wonderdrug.com.
Source of article : Wikipedia
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