Bayer to Invest Around EUR2 Billion to Strengthen Pharmaceutical Division
31 March 2022 - 06:20PM
Dow Jones News
By Giulia Petroni
Bayer AG said Thursday that it plans to invest around 2 billion
euros ($2.23 billion) over the next three years in order to
strengthen the production network of its pharmaceutical
division.
The German pharmaceutical-and-agricultural company said the
investments will target key production sites, manufacturing
technologies and the supply chain network to support future areas
of growth across the business.
The company also said it is assessing which manufacturing
activities might not be of strategic focus, and has decided to
transfer its plant in Sao Paulo, Brazil, to a new operator. It is
also planning to transfer parts of the infrastructure and services
at the German sites in Bergkamen, Wuppertal and Berlin to external
partners.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 31, 2022 03:05 ET (07:05 GMT)
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