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The future of Bayer remains sealed by glyphosate

2020-02-27T18:15:19.457Z

With 48,600 complaints in the United States, the German group could be forced to sell assets.



Bayer continues to digest the acquisition of Monsanto, bought for 60 billion euros in 2017. Admittedly, the German chemist saw his 2019 financial year boosted by his seeds and pesticides activity. The group's turnover reached 43.5 billion euros last year while its gross operating surplus amounted to 11.5 billion (+ 28.3%), a historic record. " We have achieved our financial objectives in a difficult environment ," said Werner Baumann, group chief executive, when presenting his annual results.

Read also: After glyphosate, dicamba plunges Bayer and BASF into turmoil

Still, the German company continues to pay a high price for this acquisition, both financially and in terms of image, because of glyphosate, Monsanto's controversial herbicide. If this acquisition allowed him to become the sector leader, it also plunged Bayer into turmoil. Last April, Werner Baumann had received a vote of no confidence from its shareholders. It’s the turn of the chairman of the Supervisory Board,

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Source: lefigaro

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