Bayer acquires Aventis CropScience for €7.25 billion, making it a world leader in crop protection. On December 6, the company‘s management announces plans to establish independent operating subsidiaries under the umbrella of a management holding company.
Bayer CropScience AG is launched in October as the first legally independent Bayer subgroup.
In October, the subgroups Bayer Chemicals AG and Bayer HealthCare AG and the service company Bayer Technology Services GmbH gain legal independence as part of the reorganization of the Bayer Group. The subgroup Bayer MaterialScience AG and the service companies Bayer Business Services GmbH and Bayer Industry Services GmbH & Co. OHG follow in December.
In January the Group’s world-famous trademark, the Bayer Cross, celebrates its centennial.
In June, Bayer becomes the first private-sector partner to the United Nations Environment Programme (UNEP) in the area of youth and environment.
In January, Bayer completes the acquisition of the Roche consumer health business, advancing to become one of the world’s top three suppliers of nonprescription medicines.
Lanxess AG is spun off from the Bayer Group on January 28. This company continues Bayer’s chemicals business and parts of its polymers business.
In December, the U.S. Food and Drug Administration approves sorafenib (tradename: Nexavar?), an active ingredient jointly developed by Bayer HealthCare and Onyx Pharmaceuticals Inc., for the treatment of advanced renal cell carcinoma.
In March, Bayer announces a public takeover offer for Schering AG, Berlin, Germany. In July, Bayer gains control of 92.4 percent of the approximately 191 million outstanding Schering shares. In December, Schering AG is officially renamed Bayer Schering Pharma AG.
In January, an Extraordinary Stockholders’ Meeting of Bayer Schering Pharma AG resolves to effect a “squeeze-out” of the remaining minority stockholders. Bayer Schering Pharma AG, headquartered in Berlin, now operates together with Bayer’s existing Pharmaceuticals business as a division of the Bayer HealthCare subgroup.
In January, Bayer sells the Diagnostics Division of Bayer HealthCare to Siemens AG, Munich, for €4.2 billion.
In March it is announced that the BayArena stadium, home of German Bundesliga soccer team Bayer 04 Leverkusen, is to be modernized and enlarged to accommodate a crowd of over 30,000.
In August, Bayer hosts the TUNZA International Youth Conference of the United Nations Environment Programme (UNEP) in Leverkusen, the first time this youth environmental summit has been held in central Europe. 180 young people from 85 countries debate global environmental issues.
Centennial celebration: in September, the 100th season of the Bayer Cultural Affairs Department gets under way.
November sees the launch of the integrated, Group-wide Bayer Climate Program. The program’s goals include a further reduction in CO2 emissions from Bayer’s production facilities.
In June Bayer receives the 2008 Environmental Award in the category “Environmentally Friendly Technologies” by the Federation of German Industries (BDI). Use of the new oxygen-depolarized cathode technology reduces power consumption and CO2 emissions.
The squeeze-out of the minority stockholders of Bayer Schering Pharma* AG is effected in September. At the turn of the year 2008/2009 the pharmaceuticals businesses of Bayer and Bayer Schering Pharma* in Germany are combined in a single legal entity.
In October the world’s largest MDI production facility goes on stream in Shanghai.
In November, Bayer and the German Cancer Research Center form a strategic research alliance scheduled to run for an initial period of two years.
In November, Bayer implements its zeroemissions building concept for the first time with the opening of a children’s daycare center in Monheim, Germany.
In November, Bayer CropScience completes the acquisition of Athenix Corp., a privately held U.S. biotechnology company.
In December, a Bayer team wins the German Future Prize for the development of the new anticoagulant rivaroxaban (Xarelto?).