Bayer Diagnostics history

By 1881, the growing company was being run by heirs of Bayer and Weskott, and they reorganized the concern as Farbenfabriken vorm.

A plant in northern France was established in 1883 and others throughout the homeland of Germany followed.

In 1884, chemist Carl Duisberg joined the company; he would oversee a period of remarkable innovation at Bayer.

Expanding beyond the development and manufacture of dyestuffs, the company established a pharmaceutical department in 1888.

The result, aspirin, was patented in 1899 and went on to become the most popular pain reliever worldwide.

Bayer became a part of I.G. Farbenindustrie AG in the mid 1920’s due to changing global markets and economies, developing synthetic rubber and polyurethanes but discovering sulfonamide antibiotics in the process.

1925: Merger of the major German chemical companies results in the Interessen Gemeinschaft Farbenwerke, or I.G. Farben.

I.G Farben was split into 12 companies by the Allied Forces, leading to the reemergence of Bayer in 1951 as Farbenfabriken Bayer AG.

In 1954, Bayer and Monsanto formed a chemical company known as Mobay to manufacture engineering plastics and dyestuffs.

By 1957, Bayer had developed new insecticides and fibers, as well as new raw and plastic finished materials.

In the 1970’s, the company acquired United States based Cutter Laboratories and Miles Laboratories which allowed Bayer to gain position in the United States pharmaceutical market.

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

In 1982, Bayer created 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.

In 1993, Bayer signed an agreement with the Eisai Company of Japan to sell nonprescription drugs, and the following year several joint ventures were signed in China to set up Bayer and Agfa Gevaert production operations there.

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.

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

In 2005, Bayer acquired the consumer products division of Roche, making it one of the world’s top three non-prescription medication manufacturers.

In March of 2006, Bayer announced a public takeover of Schering AG and renamed the company Bayer Schering AG. Bayer Schering is later completely incorporated into Bayer Healthcare.

Drugwatch.com has provided reliable, trusted information about medications, medical devices and general health since 2008.

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.

Bayer healthcare hit with more Mirena product defect suits, Law360 (11/2012)

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

Crop Science – high-value seeds, chemicals, and pest management solutions much of which was acquired in a 2016 acquisition of Monsanto

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 2019, the Bayer Group had estimated global revenue of $52 billion with Bayer Healthcare bringing an estimated $25 billion $14.5 billion.