Characteristics (location, age, industry, size, ownership, age and relevant changes)
Bayer Company is a German origin multinational company. Bayer Company is established in the year 1863 as a dyestuff factory in Barmen with headquarters in Leverkusen since 1912. The headquarters offer strategic management holding offices for the Bayer Group. Friedrich Bayer and Johann Friedrich Weskott founded Bayer Company as his partner.
Bayer Company is a group of offer three main operation subgroups, health science, crop science, and material science. The primary operations are supported by the service industries that are technology, business, and currenta to ensure efficient services to their customers. The healthcare subgroup of Bayer deals with pharmaceuticals and consumer health. Bayer Company is the leading and the largest pharmaceutical company in the world. The pharmaceutical group deals with mainly product prescription mainly on women healthcare and cardiology. The consumer health deal with the non-prescription product such as dermatology products and dietary products. The crop science group deals with mostly seeds, crop protection, and environmental science. Material science subgroup deals with high-tech polymer materials and basic inorganic chemicals.
Bayer Company is present in four continents Europe, North America, Asia, and Africa/Middle East, acting as their primary markets. Bayer Company started as Dyestuff Company in 1863. By the year 1898, Bayer was the best-selling and producer of aspirin. Also, Bayer coined the term Heroin as a non-addictive substitute for morphine and marketed Heroin as a cough suppressant and over-the-counter treatment for pneumonia and tuberculosis.
Activities conducted abroad. foreign sales, number of subsidiaries, number of foreign countries)
Bayer Company is a growing and well-established company with more than 93,000 employees from 350 subsidiary companies all over the world. The Bayer group internationally has a net sales of more than $34.08 billion. Bayer Company has registered more deals in Europe with a total net sales of Euro 14.7 billion. In North America, Bayer has net sales of more than Euro 9.6 billion. Latin America and African markets have registered fewer sales for Bayer with Euro 6.7 billion. Bayer group’s leading market country is in India. Bayer Group has been in India for over 100 years. Bayer has a 14-15% market share on Crop science in India. India has proved to be a good market since the country is highly dependent on agriculture. Most of the active ingredients produced in India are exported to other Bayer companies.
Bayer Group has invested intensively in Research and Development with expenses of Euro 1.8 billion in 2005. Research is conducted in Germany and the United States. High investment in R & D in Bayer is due to new medicine take long, costly, and intensive research to ensure there is value on consumers’ products. Innovation is a crucial cornerstone for the Bayer group business strategy, which has added value to their products, thus their customers receiving the best products. Research and innovation have aided in the growth of Bayer in international markets. Proper management and incorporation of reconciliation services such as technology have improved the company’s portfolio.