Bayer might look into selling its animal health division if it continues to struggle to find takeover targets for the business, the German drug maker’s incoming Chief Executive said.
“Animal Health is a business that we have been trying for many years to strengthen strategically, that is to say inorganically. That is still our goal,” says strategy chief Werner Baumann, who is to take over as CEO on 1 May. “Should we not succeed at that in the end, we will have to ask the strategic question, as is the case with all our businesses, are these businesses well placed with us as best owner or can these businesses perhaps progress better in a different environment, with different access to resources?”
Baumann declined to say for how much longer the company would continue to scout for takeover targets for the veterinary drugs unit.