Bayer seeks to cut 12,000 jobs and sell its veterinary business

Bayer claim remove 12,000 jobs and get rid of your animal health unit with the idea of ​​appeasing Wall Street, who punished the company for a series of lawsuits interposed after the purchase of Monsanto by $ 63 billion.

The German company announced a series of measures, among which: selling her sun protection and foot care segments, which she said would boost her pharmaceutical and agricultural divisions. The cuts, of which a large part in Germany where dismissals can be politically sensitive, they represent about 10% of their workforce.

The The value of the pharmaceutical market has decreased by about 30,000 million euros (34.1 billion US dollars) since August, when a Californian judge ruled against his Roundup herbicide and said that a school gardener could be affected by it. cancer. At least 9,000 more lawsuits are pending.

Bayer falls after the decision that Roundup "caused cancer"

After that stocks will fall around 40% in the last yearBayer has been confronted with growing questions about its continuity as a conglomerate. In the absence of synergies between divisions selling herbicides, anticancer drugs and anti-cat collars, changes were expected before a meeting in London on Wednesday.

The segments of business health are also facing challenges. The pharmaceutical unit will lose patent protection of its two major drugs over the next five years and does not offer many new products to offset that. The consumer health division, which strengthened four years ago with brands such as Claritin, is weakening and experiencing a third consecutive year of declining sales.