Bayer history

In 1977 a United States antitrust suit forced Bayer to buy Monsanto's share of Mobay, which generated $540 million in sales.

1982: The firm restructures, creating a third tier below the management board.

In 1986, for $25 million, Bayer secured from Sterling partial rights to use its name in North America outside the pharmaceutical area.

Up to 650 people underwent surgery using Ciproxin without doctors being informed that studies (as early as 1989) showed Ciproxin reacted badly with other drugs, seriously impairing its ability to kill bacteria.

In the 1990’s the federal government launched an investigation in to Bayer’s billing practices.

In 1992 Bayer consolidated its United States operations under the name Miles, and the Mobay name was discontinued.

In 1993 Bayer's sales of pharmaceuticals in Germany fell 20 percent as a result of government efforts to cut expenditures on pharmaceuticals: doctors, facing reduced drug budgets, began to prescribe more generic drugs in place of the expensive, proprietary drugs developed by Bayer.

In 1994, Bayer reacquired full rights to all former Bayer products after they purchased the Winthrop division of over-the-counter drugs from GlaxoSmithKline, and the Miles name was discontinued.

Net income increased by 20 percent to DM 2.4 billion in 1995, the highest level the company had recorded in its history.

In March 1996, the firm acquired the styrenics business of Monsanto Co. for $580 million.

1997: Company begins restructuring its chemical operations.

Moreover, in September 1998, Bayer acquired United States-based Chiron Corp's Diagnostics business for DM 1.9 billion.

Aspirin celebrated its centennial in March 1999.

The company's strategy of strengthening its portfolio continued, and in April 2000 the firm acquired the polyols business of United States-based Lyondell Chemical Company for $2.5 billion.

In February 2001, Bayer teamed up with CuraGen Corporation to research, develop, and market pharmaceuticals related to metabolic disease.

In addition, Bayer diversified, establishing a crop science division in 2002.

In 2005, Bayer paid $1.1 billion to settle about 3,000 Baycol death and injury claims.

Bayer continued to expand its holdings with such notable acquisitions as Schering AG (2006), a German pharmaceutical firm that was the largest maker of birth control pills.

In May 2008 German authorities blamed clothianidin for the deaths of millions of honeybees, and the German Federal Office of Consumer Protection and Food Safety (BVL) suspended the registration for eight pesticide seed treatment products, including clothianidin and imidacloprid, on maize and rape.

Bayer settled about 150 Trasylol lawsuits for $60 million in 2010.

Gardener, A. (2011, September 27). FDA turns to advisory panel for Yaz safety analysis.

Reuters Staff. (2013, April 16). Actavis to sell generic Yaz birth control after ruling.

On September 18, 2014, the Board of Directors of Bayer AG announced plans to float the Bayer MaterialScience business on the stock market as a separate entity.

Although Covestro was established as a legally independent company only in 2015, the company’s business activities extend back to the early part of the 20th century.

In 2016 the company announced that it was purchasing Monsanto, an American producer of agricultural products, including Roundup, a weed killer some claimed caused cancer.

Bayer. (2017, July 7). RestoraLAXA recall expanded to include RestoraLAX 30+7 Bonus Packs.

FDA. (2018, April 9). FDA restricts sale and distribution of Essure to protect women and to require that patients receive risk information.

In December 2019 Bayer announces that it will significantly step-up its sustainability efforts and sets itself ambitious targets.

In 2020 Bayer acquires Asklepios BioPharmaceutical (AskBio) and launches a new platform for cell and gene therapy. more

included in nearly all the major share indices traded on all German stock exchanges dividend per share proposed to €2.00 (2021)