Bayer Sees Potential 100–Million–Euros–Market in Agrochemicals
Another focus is the research and development of improved wheat varieties. Bayer Crop Science is already market leader in crop protection products for the world’s most important crop, and started to build up a wheat seeds business in 2010 by entering into a collaboration with the leading Australian research institute CSIRO.
10 Years and € 1.5 Billion for new Wheat Products
“We have mapped out a comprehensive 10 year plan to invest € 1.5 billion in the research and development of new solutions for wheat through 2020 – encompassing both seeds and crop protection products,” said Condon. “Seven wheat breeding stations across the crop’s main growing areas around the world are now operating, and the first seeds are to be sold next year in Eastern Europe. Hybrid seed varieties with improved yield are expected after 2020 – an example for the long-term nature of our business,” said Condon.
Spin Off and new Drugs Push Baye Stock to Alltime High
Last week, Bayer surprised the industry with its decision to focus on its original core business of pharma and healthcare solutions. The company now plans to launch its Material Science business as a separtae company on the stock markets by 2016. Materials, though part of the company's bread-and-butter business, has lower margins than other sectors: In 2013, the business generated around one quarter of baye's € 4 billions turnover, but only one eighth of its profits.
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The planned spinn off of Bayer Material Science and green light for a new drug on wet age related macular degeneration of the eye in japan saw the Bayer stocks breaking all records. The company is currently listed with 112.30 €/share after an alltime high of € 113.95 last week.
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