Bayer to divest household insecticides business. (Industry News).* Leverkusen, Germany-based Bayer AG Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and plans to divest its household insecticides business unit, which is part of the consumer care business group, to further streamline its portfolio. The unit comprises Baygon insecticides and Autan repellent brands. The unit has annual sales of nearly $350 million, making it the No. 2 global player in the segment, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. executives. In addition to the trademark rights, the production facilities and sales offices will also be sold. The active ingredient An active ingredient, also active pharmaceutical ingredient (or API), is the substance in a drug that is pharmaceutically active. Some medications may contain more than one active ingredient. business, however, will remain with the Bayer Group. "In our health care business area, we now want to concentrate even more on our core competencies, which are researching, manufacturing and globally marketing human and animal health care products, as well as diagnostic systems," explained Dr. Manfred Schneider, chief executive officer. "Our world-renowned Baygon and Autan are no longer a good fit in this environment. They would have bettor growth prospects with a company specialized in such products." The business unit's principal markets are in Asia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , but lacks critical mass in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. Bayer would have to invest heavily to continue growing this business. For interested parties, the business offers significant potential for expansion, especially at the regional level, Bayer executives said. The company hopes to complete the sale by the end of 2002. |
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