Bayer AG

Who owns Bayer?
Bayer AG is publicly traded on the XETRA/Frankfurt Stock Exchange under ticker BAYN with no controlling shareholder. Institutional investors including BlackRock, Vanguard Group, and other large investment management firms collectively hold the majority of outstanding shares. No individual, family, or private equity firm holds a controlling interest. The company operates under German corporate governance with a two-tier board system.

What is Bayer's annual revenue?
Bayer reported Group sales of EUR 45.575 billion for fiscal year 2025, a decrease of 2.2% on a reported basis but an increase of 1.1% on a currency- and portfolio-adjusted basis. EBITDA before special items was EUR 9.669 billion (down 4.5%), and net income was EUR -3.620 billion due to high special charges for litigation. For Q2 2026, Group sales were EUR 10.872 billion (up 2.2% adjusted), and the company confirmed its currency-adjusted outlook for 2026.

What brands does Bayer own?
Bayer owns pharmaceutical brands including Xarelto, Eylea, Nubeqa, and Kerendia; consumer health brands including Aspirin, Aleve, Claritin, Coppertone, and Bepanthen; and agricultural brands including Roundup, DeKalb, Climate FieldView, Preceon Smart Corn System, and Plenexos. The company also owns Bayer 04 Leverkusen football club, which won its first Bundesliga title in the 2023/24 season.

What is the Roundup litigation at Bayer?
The Roundup litigation involves claims alleging that Monsanto's Roundup herbicide causes cancer due to glyphosate exposure, inherited through Bayer's 2018 acquisition of Monsanto. In 2025, Monsanto agreed with leading plaintiff law firms on a proposed nationwide class settlement establishing a long-term claims program funded by declining capped annual payments for up to 21 years. In June 2026, the U.S. Supreme Court ruled 7:2 in the Durnell case that FIFRA preempts state-law failure-to-warn claims, which should result in the dismissal of current warnings-based claims and foreclose future claims.

Who is the CEO of Bayer?
Bill Anderson has served as CEO of Bayer AG since June 2023. He has led a significant turnaround focused on four strategic priorities: rejuvenating the Pharmaceuticals pipeline, executing the Crop Science Five-Year Framework, significantly containing litigation by the end of 2026, and driving efficiency through a new operating model. Under his leadership, Bayer has reduced net financial debt and headcount while advancing its pipeline.

Is Bayer publicly traded?
Yes, Bayer AG is publicly traded on the XETRA/Frankfurt Stock Exchange under the ticker symbol BAYN. The company has been publicly traded since its re-establishment in 1951 and is a component of the DAX 40 index, Germany's premier stock market index. The proposed dividend for FY2025 is EUR 0.11 per share, maintained at a reduced level to prioritize debt reduction.

What is the Monsanto acquisition and why is it controversial?
Bayer acquired Monsanto in 2018 for approximately $63 billion, making it the world's largest seed and agrochemical company. The acquisition has been widely criticized because it brought approximately 100,000+ Roundup (glyphosate) cancer claims, PCB litigation, and a massive debt burden. The litigation has cost Bayer billions in settlements and special charges, and the company's stock price and dividend have been significantly impacted. The acquisition is considered one of the most value-destructive deals in pharmaceutical industry history.

What is Bayer's sustainability strategy?
Bayer's sustainability strategy is aligned with its mission "Health for all, Hunger for none" and includes commitments to achieve Net Zero GHG emissions by 2050 (SBTi-approved), reduce water use per kilogram of crop by 25% by 2030 for smallholder rice farmers, reduce water withdrawals in Pharmaceuticals and Consumer Health by 20% by 2030, transition all Consumer Health products to 100% recycle-ready packaging, and improve access to medicine and self-care globally. The company also invests in regenerative agriculture with a target of 250,000 tons of wheat from regenerative farming.

Bayer was founded on August 1, 1863, by Friedrich Bayer and Johann Friedrich Weskott in Barmen (now part of Wuppertal), Germany, as a dyestuffs manufacturer. The company's most significant early innovation came in 1897 when Bayer chemist Felix Hoffmann developed acetylsalicylic acid, which became known as Aspirin and established Bayer as a pharmaceutical innovator. Aspirin remains one of the world's most widely used pharmaceutical products.

In the early 20th century, Bayer became part of IG Farben, a massive German chemical conglomerate. IG Farben was dissolved after World War II due to its involvement with the Nazi regime, and Bayer was re-established as an independent company in 1951.

Throughout the second half of the 20th century, Bayer expanded into pharmaceuticals, crop science, and materials science. Key milestones include the development and launch of Xarelto (rivaroxaban) in 2011, a blood thinner that became one of the company's most successful pharmaceutical products, and Eylea (aflibercept) in 2011, an eye treatment for wet age-related macular degeneration.

A transformative moment came in 2015 when Bayer spun off its materials science division as Covestro, allowing Bayer to focus on life sciences. In 2018, Bayer completed its landmark acquisition of Monsanto for approximately $63 billion, making it the world's largest seed and agrochemical company. The Monsanto acquisition also brought the Roundup herbicide litigation, which became one of the largest mass tort cases in U.S. legal history.

In 2024, Bayer 04 Leverkusen, the football club owned by Bayer AG, achieved historic success by winning its first-ever Bundesliga title under manager Xabi Alonso, completing an unbeaten league season and also winning the DFB-Pokal.

Under CEO Bill Anderson, who joined in June 2023, Bayer has undergone significant transformation. The company introduced a new operating model, reduced headcount through restructuring, and advanced a multi-pronged litigation containment strategy. In 2025, Monsanto agreed with leading plaintiff law firms on a proposed class settlement for glyphosate litigation. In June 2026, the U.S. Supreme Court issued a 7:2 ruling in the Durnell case, affirming that FIFRA preempts state-law failure-to-warn claims when the EPA has made a definitive determination on product safety.

Bayer has established comprehensive sustainability initiatives aligned with its mission "Health for all, Hunger for none."

Climate action: Bayer has committed to achieving Net Zero GHG emissions including its entire value chain by 2050 or sooner, aligned with the Paris Agreement and approved by the Science Based Targets initiative (SBTi). The company signed the Business Ambition for 1.5 degrees Celsius.

Sustainable agriculture: Bayer aims to improve water use per kilogram of crop by 25% by 2030 by transforming rice cropping systems for smallholder customers. The company is investing in regenerative agriculture and has set a target of 250,000 tons of wheat from regenerative agriculture. The Crop Protection Environmental Impact Reduction (CP EIR) initiative aims to reduce the environmental impact of crop protection products.

Healthcare access: Bayer maintains Access to Medicine programs, family planning initiatives, and a Global Health Unit (GHU). The company is ranked on the Access to Medicine Index (AtMI) and works to improve access to self-care through Consumer Health initiatives including the Nutrient Gap Initiative.

Environmental targets: The Pharmaceuticals and Consumer Health divisions aim to reduce water withdrawals by 20% by 2030. Consumer Health has a goal to transition all products to 100% recycle-ready packaging. The company's water recycling and reuse rate is approximately 736% (380 million cubic meters recycled supplemented by 52 million cubic meters withdrawn).

Responsible business: Bayer maintains a Supplier Code of Conduct (SCoC) outlining core sustainability principles for suppliers. The company has implemented the "re:contrast" initiative in Pharmaceuticals to take back contrast agent residues and recover iodine and gadolinium for future use.

Bayer has received recognition for pharmaceutical innovation, sustainability leadership, and corporate responsibility:

• Science Based Targets initiative (SBTi): Approved climate targets aligned with 1.5 degrees Celsius pathway
• Access to Medicine Index: Ranked for healthcare access programs and initiatives
• Fortune World's Most Admired Companies: Recognition in the pharmaceuticals category
• Pharmaceutical innovation: Cell and gene therapy advancements, including first company to advance both cell and gene therapies against Parkinson's disease
• Crop science innovation: Plenexos insecticide launch and Preceon Smart Corn System scaling

Bayer has faced extensive controversy and regulatory scrutiny, primarily related to the Monsanto acquisition and Roundup litigation:

Roundup (glyphosate) litigation: The most significant controversy involves approximately 100,000+ claims alleging that Monsanto's Roundup herbicide causes cancer due to glyphosate exposure. Bayer inherited these claims through its 2018 acquisition of Monsanto. In 2025, Monsanto agreed with leading plaintiff law firms on a proposed nationwide class settlement establishing a long-term claims program funded by declining capped annual payments for up to 21 years. In June 2026, the U.S. Supreme Court issued a 7:2 ruling in the Durnell case, affirming that FIFRA expressly preempts state-law failure-to-warn claims when the EPA has made a definitive determination on product safety. This ruling should result in the dismissal of current warnings-based claims and foreclose future claims based on state failure-to-warn theories. The combination of the class settlement and Supreme Court ruling represents significant progress in Bayer's litigation containment strategy.

PCB litigation: Monsanto has also faced litigation related to PCB (polychlorinated biphenyl) contamination. Monsanto successfully resolved cases to limit the company's exposure, though some PCB-related claims remain.

Monsanto acquisition criticism: The $63 billion Monsanto acquisition has been widely criticized by investors and analysts for bringing massive litigation liability and debt to Bayer. The acquisition has been described as one of the most value-destructive deals in pharmaceutical industry history.

Patent expirations: Bayer faces revenue cliffs from patent expirations on key pharmaceutical products including Xarelto and Eylea. The company is working to offset these with new pipeline assets but faces a transitional period of revenue pressure.

Pharmaceutical and agricultural regulation: Bayer operates under ongoing scrutiny from the FDA, EMA, and other regulatory authorities regarding drug safety, clinical trials, and marketing practices. The Crop Science division faces scrutiny regarding pesticide safety, environmental impact, and GMO crop regulations.

Financial impact: The litigation and debt burden from the Monsanto acquisition have significantly impacted Bayer's financial performance. FY2025 net income was EUR -3.620 billion due to high special charges for litigation. The dividend has been reduced to EUR 0.11 per share for three consecutive years as the company focuses on debt reduction.