Bayer announced recently that it plans to sell multiple assets, including the company’s animal health unit. The intention of selling is not reported to have any relation to Bayer’s acquisition of Monsanto and the accompanying litigation related to glyphosate.
“Our animal health business is well positioned in an attractive industry which will continue to grow,” Bayer CEO Werner Baumann said in a statement. “The necessary investments to further develop this business are, however, not available within Bayer given the priorities with our core areas Pharmaceuticals, Consumer Health and Crop Science. Because of these priorities, we are convinced that Bayer is no longer the best owner for Animal Health.”
Bayer Animal Health has had a significant presence in the livestock and pet markets with close to a dozen different product lines for pets and farm animals. Some of the most notable products include the antibiotic Baytril, as well as popular pet market brands Advantage flea protection and Advantix flea and tick preventive.
The selling of the animal health unit is not an unexpected move. When Baumann assumed his leadership position two years ago, he announced plans for the unit were to either continue development through partnerships and acquisitions or consider a public offering or complete sale of the unit. The company will also be selling the sunscreen brand Coppertone and foot-care brand Dr. Scholl’s and decreasing its global workforce by about 12,000 positions.