The animal health business represents around just 3.5% of Bayer group revenues and the company currently owns the sixth-largest animal health business globally. It has regularly posted growth over the last ten years, but so far this year animal health turnover has fallen by approximately 6%. Bayer has now confirmed they will be leaving the animal health market as well as selling its 60% interest in Currenta, and divesting sunscreen brand Coppertone and foot care business Dr. Scholl's.
“Bayer leaving animal health market next year.“
Werner Baumann, Bayer’s chairman, said: "Our animal health business is well positioned in an attractive industry which will continue to grow. The necessary investments to further develop this business are however not available within Bayer given the priorities with our core areas of pharmaceuticals, consumer health and crop science. Because of these priorities, we are convinced that Bayer is no longer the best owner for animal health."