Abstract
Bayer, Hoechst, ICI, Rhone-Poulenc, Solvay, and other European corporate giants broke their drug and chemical businesses into separate firms in the name of progress and shareholder value. Today, Darmstadt, Germany-based Merck KGaA is the only major European company making both chemicals and pharmaceuticals. Merck’s performance materials business, featuring its chemical activities, posted a decline in sales last year, putting pressure on the company to take action. In 2014, facing similar conditions, Bayer decided to sell off its MaterialScience business, ending 150 years of industrial chemical production at the company. While some Merck watchers might consider it time for a breakup there as well, the firm’s chief executive officer, Stefan Oschmann, made clear at its recent financial results briefing that he intends to keep the business together. Merck is different, Oschmann said, and he expects unique synergies between its businesses to emerge with the digitization of health care. The sales slip
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
