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Bayer Corporation

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Bayer Corporation

Bayer Corporation
Subsidiary
Industry Pharmaceuticals, Plastics, Agricultural Chemicals
Founded 1954
Headquarters Robinson Township, Pennsylvania, United States
Area served
Nationwide
Key people
Phillip Blake
Senior Bayer Representative USA[1]
Products prescription medications
over the counter drugs
nutritional supplements
diagnostic products
animal health products
crop protection products
polyurethane raw materials
plastics
Revenue $13.4 billion USD (2013)€9.7 billion[2]
Number of employees
15,200 (2013)[2]
Parent Bayer
Website www.bayerus.com

Bayer Corporation (also known as Bayer USA) is the American subsidiary of Bayer AG. Its main offices are located in Robinson Township, a western suburb of Pittsburgh. In addition it has 40 fully consolidated subsidiary companies[2] located in 19 different states.[3]

Contents

  • History 1
    • Mobay 1.1
    • Spin-off 1.2
  • Products 2
  • Subsidiaries 3
  • Philanthropic activities 4
  • See also 5
  • References 6
  • External links 7

History

Bayer AG began marketing in the United States soon after the company's inception in Germany. In the late 1800s, they began to sell their trademark medication, aspirin. While the name "aspirin" became synonymous with Bayer for over a quarter of a century, the company lost the trademark on the name in the United States during World War I, due to the company's German origin. The word is still trademarked in other countries.

Mobay

In 1954, Bayer AG and Monsanto reached an agreement for establishment of a joint venture that was to be called Mobay. Initially established in St. Louis, Mobay established its headquarters in Pittsburgh, Pennsylvania in 1958, moving to its present location adjacent to Interstate 376 in 1960.[4] A polyurethanes manufacturing site in New Martinsville, West Virginia began operation in 1955.[5]:440

In 1964 the United States Department of Justice brought anti-trust action against Mobay, resulting in Bayer AG reaching an agreement to purchase Monsanto's share of the company in 1967.[5]:440–441 In October 1971 Mobay, along with five other Bayer-owned chemical-related subsidiaries in the United States, merged into a single company called Baychem Chemical Company and headquartered in New York City. By 1974 the company relocated to Pittsburgh under the name Mobay Chemical Company.[4]:24[5]:487 In that same decade two additional United States companies were acquired and merged into Mobay: Cutter Laboratories in 1974 and Miles Laboratories in 1978.[5]:489 In 1994, Bayer finally reacquired full rights to all former Bayer products after they purchased the Winthrop division of over-the-counter drugs from GlaxoSmithKline.

Spin-off

On September 18, 2014, the Board of Directors of Bayer AG announced plans to float the Bayer MaterialScience business on the stock market as a separate entity.[6]

Products

Noted Bayer over-the-counter products include Aleve, Bayer Aspirin, Alka-Seltzer, Phillip's Laxatives, Bactine, One-A-Day Vitamines, Flintstone Vitamins, and Midol. The company also markets prescription medications, animal medications, and diagnostic and medical testing equipment. Aside from the medical arm of the company, Bayer also creates many different chemicals and agricultural products.

Subsidiaries

Philanthropic activities

In 1953, Bayer Corporation founded the first of three foundations that were later merged into the Bayer USA Foundation to support philanthropic giving in the United States.[7][8] Foundation grants focus on education and workforce development, and environment and sustainability.

Making Science Make Sense (MSMS) is a science, technology, engineering, and mathematics(STEM) social responsibility program to provide hands-on, inqury-based educational opportunities in the United States.[8] The program focuses on promoting science and scientific principles to students in grades K-20. Astronaut Mae Jemison is the national spokesperson for MSMS.[9]

See also

References

  1. ^ "About Bayer in the US". Retrieved 30 March 2014. 
  2. ^ a b c "Bayer: North America". Retrieved 31 March 2014. 
  3. ^ "Our Communities". Retrieved 25 April 2014. 
  4. ^ a b Bayer 50 Pittsburgh. Pittsburgh, PA: Bayer Corporate Communications. September 2008. p. 11. 
  5. ^ a b c d Verg, Erik (1988). The Bayer Story. Milestones 1863-1988 (PDF). Leverkusen, Germany: Bayer AG. p. 440.  
  6. ^ "Bayer to Spin Off Plastics Group to Focus on Health Care". New York Times. September 18, 2014. Retrieved 13 October 2014. 
  7. ^ About the Bayer USA Foundation: http://www.bayerus.com/Foundation/history.aspx
  8. ^ a b Newsroom Community Outreach: http://bayerus.online-pressroom.com/index.cfm/resources/community-outreach/
  9. ^ "Meet Our National Spokesperson". Retrieved 4 April 2014. 

External links

  • Official website
  • Bayer USA Foundation
  • 2008 USA Today Q&A with CEO Greg Babe
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