Bayer Schering Pharma, Germany

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Bayer, fully Bayer AG, a German chemical and pharmaceutical company founded in 1863 by Friedrich Bayer (1825-1880), a chemical salesman, and Johann Friedrich Wescott (1821-1876), who owned a paint company. The company’s headquarters, originally located in Barmen (now Wuppertal), was in Leverkusen, north of Cologne, in 1912.

The company was originally called Friedr. Bayer et al. computer. and industrial dyes; in 1881 it was registered as Farbenfabriken vormals Friedr. Bayer & Co. Aspirin, the accidental invention of the chemist BayerFelix Hoffmann (1868-1946) was introduced by the company in 1899. In 1912, Karl Duisberg (1861-1935), a chemist, became CEO of Bayer and soon led the movement that led to the 1925 unification of the German chemical industry known as IG Farben; Duisberg was the first chairman of IG Farben, a Bayer remained in the cartel until it was disbanded by the Allies in 1945.

In 1951, the independent Bayer company was transformed into Farbenfabriken Bayer Aktiengesellschaft; the current name was adopted in 1972. From 1981 to 1999, Bayer owned the controlling share of the Agfa-Gevaert Group, a German and Belgian manufacturer of photographic equipment and film, magnetic tape, photocopying and reproduction machines. Bayer continued to expand its assets with notable acquisitions such as Schering AG (2006), a German pharmaceutical firm that was the largest manufacturer of contraceptive pills. In addition, Bayer has diversified by creating a plant production unit in 2002. In 2016, the company announced the acquisition of Monsanto, an American agricultural producer, including Roundup weed eradication, which is alleged to cause cancer. The deal, estimated at $63 billion, was closed in 2018. Soon after, the Roundup lawsuit was decided in favour of the plaintiff, and the possibility of extensive legal obligations led to a reduction in Bayer’s value. In 2020, the company agreed to pay over $10 billion to settle claims over weed funds.

The company’s trademark, the Bayer Cross, is recognized worldwide. Dozens of pharmaceuticals, dyes, acetates, synthetic rubber, plastics, fibers, insecticides and other chemicals were first developed by Bayer. In addition to being the creator and first marketing maso-pirin (1899), Bayer was the first company to start a mass production of cVogeroin for pain and cough treatment (1898). He introduced the first sulfanylamide drug ,Prontosil (1935) and developed polyurethane (1937), the main material for synthetic foam, paints, adhesives, fibers and other products.