What is Bayer?

Bayer AG, commonly known as Bayer, is a German multinational life science company with operations in the pharmaceutical, consumer health, and crop science sectors. The company was founded in 1863 and has since grown to become one of the world's leading chemical and pharmaceutical companies. Bayer is known for its innovative products, including aspirin, heroin, and a range of other pharmaceuticals, as well as agricultural chemicals and consumer products.

1. **History**: Bayer was founded by Friedrich Bayer and Johann Friedrich Weskott in 1863 as a general partnership "Friedr. Bayer et comp." The company experienced rapid growth and became a chemical company with international operations by 1914. However, World War I and World War II disrupted its operations, and it faced challenges in the post-war period. In 1925, Bayer merged with other German companies to form I.G. Farbenindustrie AG to remain competitive. During World War II, Bayer's operations were vital to the German war effort and it made use of forced labor. After the war, Bayer faced legal and financial challenges, including lawsuits related to its agricultural chemicals. In 2016, Bayer offered to buy Monsanto for $62 billion, which was later approved in 2018.
2. **Products and Services**: Bayer's product portfolio includes a wide range of pharmaceuticals, such as Adalat, Aspirin Cardio, and Nexavar, as well as consumer health products like Aleve and Claritin. In agriculture, Bayer offers chemical and biological crop protection products, improved plant traits, seeds, and digital solutions. The company also provides pest and weed management products and customer services for agriculture.
3. **Innovation**: Bayer is known for its role in the development and commercialization of aspirin, which was introduced in 1899. The company was also one of the first to mass-produce heroin for use in pain and cough medications. Bayer has a history of innovation and has introduced a range of products that have had a significant impact on public health, although some of its products, such as the weed killer Roundup, have been the subject of legal challenges.
4. **Corporate Strategy**: Bayer's strategy is focused on creating value for its customers, shareholders, and employees while operating sustainably and addressing social and ethical responsibilities. The company has been working to redesign its operating model to deliver faster innovation and a better experience for its customers. Bayer has also been committed to addressing sustainability and has set goals to reduce its environmental impact.

In conclusion, Bayer is a leading global life science company with a rich history of innovation and a diverse range of products and services. The company has faced challenges and disruptions over its history, but has continued to grow and innovate, with a focus on sustainability and social responsibility.