Recently, the German chemical and medical giant Bayer AG (OTCMKTS: BAYRY), which plans to acquire Monsanto (NYSE: MON) for US$62 billion, is planning to sell its radioactive supplies business at a price of more than $3 billion.
Currently, the company is discussing with investment banks to hire consultants to explore strategic options for its radioactive supplies business, including the sale. The business brought $1.7 billion in revenue to the company, mainly from developer and related injection instruments.
This shows that the German company is trying to focus its business on high-growth asset business, so it plans to divest its non-performing assets business.
Bayer said in its official statement that the move will be part of a strategic review of the company's business unit, which is trying to narrow its healthcare division's assets around high performance, including its consumer health products and prescription drugs. The recent divestiture of assets indicates that it is moving towards achieving its growth strategy.
In 2014, Bayer divested its underperforming cardiovascular business to Boston Scientific Corp for $415 million; and in 2015 sold its blood glucose meter business to €1.22 billion. Panasonic Healthcare Holdings.
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