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108-540: Bayer AG ( English: / ˈ b aɪ . ər / , commonly pronounced / ˈ b eɪ ər / ; German: [ˈbaɪɐ] ) is a German multinational pharmaceutical and biotechnology company and is one of the largest pharmaceutical companies and biomedical companies in the world. Headquartered in Leverkusen , Bayer's areas of business include: pharmaceuticals, consumer healthcare products, agricultural chemicals , seeds and biotechnology products. The company

216-401: A solid , it forms dark green crystals . As well as dying textiles , fuchsine is used to stain bacteria and sometimes as a disinfectant . In the literature of biological stains the name of this dye is frequently misspelled, with omission of the terminal -e , which indicates an amine . American and English dictionaries (Webster's, Oxford, Chambers, etc.) give the correct spelling, which

324-430: A German conglomerate formed from the merger of six chemical companies: BASF , Bayer , Hoechst (including Cassella and Kalle & Co.  [ de ] ), Agfa , Chemische Fabrik Griesheim-Elektron, and Chemische Fabrik vorm. Weiler Ter Meer . In the 1930s, Gerhard Domagk , director of Bayer's Institute of Pathology and Bacteriology, working with chemists Fritz Mietzsch and Joseph Klarer, discovered prontosil ,

432-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

540-508: A circle. An illuminated version of the logo is a landmark in Leverkusen. Bayer's first major product was acetylsalicylic acid —first described by French chemist Charles Frederic Gerhardt in 1853—a modification of salicylic acid or salicin , a folk remedy found in the bark of the willow plant. By 1899, Bayer's trademark Aspirin was registered worldwide for Bayer's brand of acetylsalicylic acid, but it lost its trademark status in

648-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

756-491: A fee of $ 1.02 billion. In August 2019, the business acquired the ≈60% of BlueRock Therapeutics it didn't already own for up to $ 600 million. In August 2020, Bayer announced it had acquired KaNDy Therapeutics Ltd, helping to boost its female healthcare business, for $ 425 million. In October, Bayer agreed to acquire Asklepios BioPharmaceuticals for $ 2 billion upfront. In June 2021, the company announced it acquire Noria Therapeutics Inc. and PSMA Therapeutics Inc. gaining rights to

864-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

972-612: A lung irritant against British forces. In 1916, Bayer scientists discovered suramin , an anti- parasite drug that is still sold by Bayer under the brand name Germanin. The formula of suramin was kept secret by Bayer for commercial reasons, but it was elucidated and published in 1924 by Ernest Fourneau and his team at the Pasteur Institute . It is on the World Health Organization's List of Essential Medicines . In 1925, Bayer became part of IG Farben ,

1080-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1188-402: A number of cancer-based investigational compounds based on actinium-225 . In September 2015, Bayer spun out its $ 12.3 billion materials science division into a separate, publicly traded company called Covestro in which it retained about a 70% interest. Bayer spun out the division because it had relatively low profit margins compared to its life science divisions (10.2%, compared with 24.9% for

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1296-452: A primary amine group. Other resonance structures can be conceived, where the positive charge "moves" from one amine group to the next, or one third of the positive charge resides on each amine group. The ability of fuchsine to be protonated by a stronger acid gives it its basic property. The positive charge is neutralized by the negative charge on the chloride ion. The positive "basic fuchsinium ions" and negative chloride ions stack to form

1404-454: A solvent, the strong magenta colour appears. Fuchsine is an amine salt and has three amine groups, two primary amines and a secondary amine . If one of these is protonated to form ABCNH , the positive charge is delocalized across the whole symmetrical molecule due to pi cloud electron movement. The positive charge can be thought of as residing on the central carbon atom and all three "wings" becoming identical aromatic rings terminated by

1512-500: A variety of product lines including Alka-Seltzer , Flintstones vitamins and One-A-Day vitamins, and Cutter insect repellent . Along with the purchase of Cutter, Bayer acquired Cutter's Factor VIII business. Factor VIII, a clotting agent used to treat hemophilia , was produced, at the time, by processing donated blood. In the early days of the AIDS epidemic , people with hemophilia were found to have higher rates of AIDS, and by 1983

1620-526: Is a component of the EURO STOXX 50 stock market index. Bayer was founded in 1863 in Barmen as a partnership between dye salesman Friedrich Bayer (1825–1880) and dyer Friedrich Weskott (1821–1876). The company was established as a dyestuffs producer, but the versatility of aniline chemistry led Bayer to expand its business into other areas. In 1899, Bayer launched the compound acetylsalicylic acid under

1728-503: Is also used in the literature of industrial dyeing. It is well established that production of fuchsine results in development of bladder cancers by production workers. Production of magenta is listed as a circumstance known to result in cancer . Fuchsine was first created by Jakub Natanson in 1856 from aniline and 1,2-Dichloroethane . In 1858 August Wilhelm von Hofmann obtained it from aniline and carbon tetrachloride . François-Emmanuel Verguin  [ fr ] discovered

1836-426: Is an example of a General Medicine business unit. Bayer Pharma produces the birth control pills Yaz and Yasmin . Both pills use a newer type of progestin hormone called drospirenone in combination with estrogen. Yaz is advertised as a treatment for premenstrual dysphoric disorder (PMDD) and moderate acne. Other key products include the cancer drug Nexavar , the multiple sclerosis drug betaferon / betaseron and

1944-685: Is located in St. Louis , Missouri , United States . Bayer CropScience Limited is the Indian subsidiary of Bayer AG. It is listed on the Indian stock exchanges ; the Bombay Stock Exchange and National Stock Exchange of India , and has a market capitalization of $ 2 billion. Bayer BioScience, headquartered in Hyderabad, India , has about 400 employees, and has research, production, and an extensive sales network spread across India . Before

2052-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

2160-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

2268-535: The Commonwealth of Independent States countries such as Russia , Ukraine , Kazakhstan , Belarus , and others. On 28 August 2008, an explosion occurred at the Bayer CropScience facility at Institute, West Virginia , United States . A runaway reaction ruptured a tank and the resulting explosion killed two employees. The ruptured tank was close to a methyl isocyanate tank which was undamaged by

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2376-848: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

2484-682: The IG Farben Trial like Fritz ter Meer . Bayer played a key role in the Wirtschaftswunder in post-war West Germany , quickly regaining its position as one of the world's largest chemical and pharmaceutical corporations. In 2016, Bayer merged with the American multinational Monsanto in what was the biggest acquisition by a German company to date. However, owing to the massive financial and reputational blows caused by ongoing litigation concerning Monsanto's herbicide Roundup ,

2592-470: The United States between 2013 and 2016. A Bayer spokesperson said that the largest investments will be made to expand the production of its herbicide Liberty. Liberty is an alternative to Monsanto's product, Roundup , which are both used to kill weeds. In 2016, as part of the wholesale corporate restructuring, Bayer CropScience became one of the three major divisions of Bayer AG, reporting directly to

2700-774: The 1935 Nobel Peace Prize to a German pacifist, Carl von Ossietzky . IG Farben , Bayer's parent company, used slave labour in factories it built in Nazi concentration camps , most notably in the Monowitz concentration camp (known as Auschwitz III), part of the Auschwitz camp complex in German-occupied Poland. By 1943, almost half of IG Farben's 330,000-strong workforce consisted of slave labour or conscripts, including 30,000 Auschwitz prisoners. Helmuth Vetter , an Auschwitz camp physician, SS captain and employee of

2808-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

2916-690: The 2016 restructuring, Bayer HealthCare comprised a further four subdivisions: Bayer Schering Pharma, Bayer Consumer Care, Bayer Animal Health and Bayer Medical Care. As part of the corporate restructuring, Animal Health was moved into its own business unit, leaving the division with the following categories; Allergy, Analgesics, Cardiovascular Risk Prevention, Cough & Cold, Dermatology, Foot Care, Gastrointestinals, Nutritionals and Sun Care. Bayer Consumer Care manages Bayer's OTC medicines portfolio. Key products include analgesics such as Bayer Aspirin and Aleve , food supplements Redoxon and Berocca , and skincare products Bepanthen and Bepanthol. Women's healthcare

3024-674: The Bayer group within IG Farben conducted medical experiments on inmates at Auschwitz and at the Mauthausen concentration camp . In one study of an anaesthetic, the company paid RM 170 per person for the use of 150 female inmates of Auschwitz. A Bayer employee wrote to Rudolf Höss , the Auschwitz commandant: "The transport of 150 women arrived in good condition. However, we were unable to obtain conclusive results because they died during

3132-569: The Belgian biotech company Plant Genetic Systems became part of Bayer through the Aventis acquisition. Also in 2002, Bayer AG acquired the Dutch seed company Nunhems, which at the time was one of the world's top five seed companies. In 2006, the U.S. Department of Agriculture announced that Bayer CropScience's LibertyLink genetically modified rice had contaminated the U.S. rice supply. Shortly after

3240-807: The CDC had identified contaminated blood products as a source of infection. According to the New York Times , this was "one of the worst drug-related medical disasters in history". Companies, including Bayer, developed new ways to treat donated blood with heat to decontaminate it, and these new products were introduced early in 1984. In 1997, Bayer and the other three makers of such blood products agreed to pay $ 660 million to settle cases on behalf of more than 6,000 hemophiliacs infected in United States. But in 2003, documents emerged showing that Cutter had continued to sell unheated blood products in markets outside

3348-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

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3456-465: The German market. In the 1960s, Bayer introduced a pregnancy test, Primodos , that consisted of two pills that contained norethisterone (as acetate) and ethinylestradiol . It detected pregnancy by inducing menstruation in women who were not pregnant; the presence or absence of menstrual bleeding was then used to determine whether the user was pregnant. The test became the subject of controversy when it

3564-482: The Holocaust , including using slave labour from concentration camps and humans for dangerous medical testing, and production of Zyklon B , a chemical used in gas chambers . In 1951, IG Farben was split into its constituent companies, and Bayer was reincorporated as Farbenfabriken Bayer AG. After the war, Bayer re-hired several former Nazis to high-level positions, including convicted Nazi war criminals found guilty at

3672-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

3780-511: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

3888-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

3996-732: The Radiology Business Unit which markets contrast-enhanced diagnostic imaging equipment together with the necessary contrast agents. In addition to internal R&D, Bayer has participated in public–private partnerships . One example in the area of non-clinical safety assessment is the InnoMed PredTox program. Another is the Innovative Medicines Initiative of EFPIA and the European Commission . Bayer Chemicals AG (with

4104-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

4212-522: The U.S. and Canadian trademark rights to "Bayer" and the Bayer cross, as well as the ownership of the Aspirin trademark in Canada. In 2004, Bayer HealthCare acquired the over-the-counter pharmaceutical division of Roche . In March 2008, Bayer HealthCare announced an agreement to acquire the portfolio and OTC division of privately owned Sagmel, Inc., a US-based company that markets OTC medications in most of

4320-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

4428-564: The US until 1985, including in Malaysia, Singapore, Indonesia, Japan and Argentina, to offload a product they were unable to sell in Europe and the US; they also continued manufacturing the unheated product for several months. Bayer said it did this because some countries were doubtful about the efficacy of the new product. Bayer has been involved in other controversies regarding its drug products. In

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4536-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

4644-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

4752-470: The United States alone for prevention of cardiovascular events. It is on the WHO Model List of Essential Medicines , the most important medications needed in a basic health system . There is an unresolved controversy over the roles played by Bayer scientists in the development of aspirin. Arthur Eichengrün , a Bayer chemist, said he was the first to discover an aspirin formulation that did not have

4860-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

4968-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

5076-523: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

5184-470: The United States, Canada and several other countries. In the United States and Canada, Bayer's assets and trademarks, including the well-known Bayer cross, were acquired by Sterling Drug , a predecessor of Sterling Winthrop and were not reclaimed until 1994. Throughout the war, Bayer was involved in production and development of various chemical weapons. In 1914, Bayer manufactured dianisidine chlorosulfate for use in 105 mm artillery shell, intended as

5292-658: The United States, France and the United Kingdom after the confiscation of Bayer's US assets and trademarks during World War I by the United States, and because of the subsequent widespread usage of the word. The term aspirin continued to be used in the US , UK and France for all brands of the drug, but it is still a registered trademark of Bayer in over 80 countries, including Canada, Mexico, Germany and Switzerland . As of 2011, approximately 40,000 tons of aspirin were produced each year and 10–20 billion tablets consumed in

5400-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

5508-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

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5616-498: The acquisition bid, seeking a higher price. In September 2016, Monsanto agreed to a $ 66 billion offer by Bayer. In order to receive regulatory approval, Bayer agreed to divest a significant amount of its current agricultural assets to BASF in a series of deals. On 21 March 2018 the deal was approved by the European Union, and it was approved in the United States on 20 May 2018. The sale closed on 7 June 2018. The Monsanto brand

5724-799: The agriculture business and 27.5% for healthcare) and because the business required high levels of investment to maintain its growth, and to more clearly focus its efforts and identity in the life sciences. Covestro shares were first offered on the Frankfurt Stock Exchange in October 2015. Effective January 2016 following the spinout of Covestro, Bayer rebranded itself as a life sciences company, and restructured into three divisions and one business unit: Pharmaceuticals, Consumer Health, Crop Science, and Animal Health. In May 2016, Bayer offered to buy U.S. biotechnology company Monsanto for $ 62 billion. Shortly after Bayer's offer, Monsanto rejected

5832-526: The batches differently suitable for different purposes. In solution with phenol (also called carbolic acid) as an accentuator it is called carbol fuchsin and is used for the Ziehl–Neelsen and other similar acid-fast staining of the mycobacteria which cause tuberculosis , leprosy etc. Basic fuchsine is widely used in biology to stain the nucleus , and is also a component of Lactofuchsin, used for Lactofuchsin mounting . The crystals pictured at

5940-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

6048-511: The blood-clotting drug, Kogenate . In May 2014, it was announced that Bayer would buy Merck & Co 's consumer health care unit for $ 14.2 billion. Bayer also controls Dihon Pharmaceutical Group Co., Ltd in China. The Pharmaceuticals Division focuses on prescription products, especially for women's healthcare and cardiology , and also on specialty therapeutics in the areas of oncology , hematology and ophthalmology . The division also comprises

6156-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

6264-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

6372-572: The company's most important products. The headquarters and most production facilities moved from Barmen to a larger area in Elberfeld in 1866. Friedrich Bayer (1851–1920), the son of the company's founder, was a chemist and joined the company in 1873. After the death of his father in 1880, the company became a joint-stock company, Farbenfabriken vorm. Friedr. Bayer & Co, also known as Elberfelder Farbenfabriken. A further expansion in Elberfeld

6480-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

6588-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

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6696-487: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

6804-461: The deal is considered one of the worst corporate mergers in history. Bayer owns the Bundesliga football club Bayer 04 Leverkusen . Bayer AG was founded as a dyestuffs factory in 1863 in Barmen (later part of Wuppertal ), Germany, by Friedrich Bayer and his partner, Johann Friedrich Weskott, a master dyer. Bayer was responsible for the commercial tasks. Fuchsine and aniline became

6912-571: The deal is considered one of the worst corporate mergers in history. By 2023, Bayer's market value had declined by over 60% since its 2016 merger, leaving the company's overall worth at less than half of what it paid to acquire Monsanto. In 2003, to separate operational and strategic managements, Bayer AG was reorganized into a holding company . The group's core businesses were transformed into limited companies, each controlled by Bayer AG . These companies were: Bayer CropScience AG; Bayer HealthCare AG; Bayer MaterialScience AG and Bayer Chemicals AG, and

7020-543: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Fuchsine Fuchsine (sometimes spelled fuchsin ) or rosaniline hydrochloride is a magenta dye with chemical formula C 20 H 19 N 3 ·HCl. There are other similar chemical formulations of products sold as fuchsine, and several dozen other synonyms of this molecule. It becomes magenta when dissolved in water ; as

7128-499: The discovery of phenobarbital in 1911 and the discovery of its potent anti-epileptic activity in 1912. Phenobarbital was among the most widely used drugs for the treatment of epilepsy through the 1970s, and as of 2014 it remains on the World Health Organization's list of essential medications. During World War I (1914–1918), Bayer's assets, including the rights to its name and trademarks, were confiscated in

7236-429: The drug to have "too complicated a name" so Bayer settled on heroisch, the German word for heroic. In 1903, Bayer licensed the patent for the hypnotic drug diethylbarbituric acid from its inventors Emil Fischer and Joseph von Mering. It was marketed under the trade name Veronal as a sleep aid beginning in 1904. Systematic investigations of the effect of structural changes on potency and duration of action at Bayer led to

7344-490: The exception of H.C. Starck and Wolff Walsrode) was combined with certain components of the polymers segment to form the new company Lanxess on 1 July 2004; Lanxess was listed on the Frankfurt Stock Exchange in early 2005. Bayer HealthCare's Diagnostics Division was acquired by Siemens Medical Solutions in January 2007. Bayer sold its Animal Health business to Elanco in 2020. Multinational corporation Most of

7452-569: The experiments. We would kindly request that you send us another group of women to the same number and at the same price." After the war, the Allied Control Council seized IG Farben for "knowingly and prominently ... building up and maintaining German war potential". It was split into its six constituent companies in 1951, then split again into three: BASF, Bayer and Hoechst. Bayer was at that point known as Farbenfabriken Bayer AG ; it changed its name to Bayer AG in 1972. After

7560-509: The explosion. In March 2006, Merck KGaA announced a €14.6 billion bid for Schering AG , founded in 1851. By 2006, Schering had annual gross revenue of around €5 billion and employed about 26,000 people in 140 subsidiaries worldwide. Bayer responded with a white knight bid and in July acquired the majority of shares of Schering for €14.6 billion, and in 2007, Bayer took over Schering AG and formed Bayer Schering Pharma. The acquisition of Schering

7668-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

7776-659: The first commercially available antibacterial drug. The discovery and development of this first sulfonamide drug opened a new era in medicine. Domagk won the Nobel Prize in Physiology or Medicine in 1939 "for the discovery of the antibacterial effects of prontosil". He was forced by the Nazi Party to relinquish the reward; German citizens had been forbidden from accepting Nobel prizes since the Nobel committee had awarded

7884-475: The four core units, as depicted below. Bayer CropScience has products in crop protection (i.e. pesticides ), nonagricultural pest control, and seeds and plant biotechnology . In addition to conventional agrochemical business, it is involved in genetic engineering of food . In 2002, Bayer AG acquired Aventis (now part of Sanofi ) CropScience and fused it with their own agrochemicals division (Bayer Pflanzenschutz or "Crop Protection") to form Bayer CropScience;

7992-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

8100-515: The head of the division, Liam Condon. Under the terms of the merger, Bayer promised to maintain Monsanto's more than 9,000 U.S. jobs and add 3,000 new U.S. high-tech positions. The prospective merger parties said at the time the combined agriculture business planned to spend $ 16 billion on research and development over the next six years and at least $ 8 billion on research and development in the United States. The global headquarters of Bayer CropScience

8208-521: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

8316-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

8424-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

8532-436: The late 1990s it introduced a statin drug, Baycol ( cerivastatin ), but after 52 deaths were attributed to it, Bayer discontinued it in 2001. The side effect was rhabdomyolysis , causing kidney failure , which occurred with a tenfold greater frequency in patients treated with Baycol in comparison to those prescribed alternate medications of the statin class. Trasylol ( aprotinin ), used to control bleeding during major surgery,

8640-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

8748-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

8856-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

8964-551: The name was chosen for both reasons. Acid fuchsine is a mixture of homologues of basic fuchsine, modified by addition of sulfonic groups. While this yields twelve possible isomers, all of them are satisfactory despite slight differences in their properties. Basic fuchsine is a mixture of rosaniline, pararosaniline , new fuchsine and Magenta II . Formulations usable for making of Schiff reagent must have high content of pararosanilin. The actual composition of basic fuchsine tends to somewhat vary by vendor and batch, making

9072-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

9180-516: The public learned of the contamination, the E.U. banned imports of U.S. long-grain rice and the futures price plunged. In April 2010, a Lonoke County, Arkansas jury awarded a dozen farmers $ 48 million. The case was appealed to the Arkansas Supreme Court, which affirmed the judgement. On 1 July 2011, Bayer CropScience agreed to a global settlement for up to $ 750 million. In September 2014, the firm announced plans to invest $ 1 billion in

9288-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

9396-479: The right are of basic fuchsine, also known as basic violet 14, basic red 9, pararosanaline or CI 42500 . Their structure differs from the structure shown above by the absence of the methyl group on the upper ring, otherwise they are quite similar. They are soft, with a hardness of less than 1, about the same as or less than talc. They possess a strong metallic lustre and a green yellow color. They leave dark greenish streaks on paper and when these are moistened with

9504-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

9612-545: The substance independently of Hofmann the same year and patented it. Fuchsine was named by its original manufacturer Renard frères et Franc, is usually cited with one of two etymologies: from the color of the flowers of the plant genus Fuchsia , named in honor of botanist Leonhart Fuchs , or as the German translation Fuchs of the French name Renard, which means fox. An 1861 article in Répertoire de Pharmacie said that

9720-410: The three service limited companies Bayer Technology Services GmbH , Bayer Business Services GmbH and Bayer Industry Services GmbH & Co. OHG. In 2016, the company began a second restructuring with the aim of allowing it to transition to a life sciences based company. By divesting its Chemicals division in 2004 and with the aim of off-loading its Materials division by mid-2016, Bayer will be left with

9828-645: The trademarked name Aspirin . Aspirin is on the World Health Organization's List of Essential Medicines . In 2021, it was the 34th most commonly prescribed medication in the United States, with more than 17   million prescriptions. In 1904, Bayer received a trademark for the "Bayer Cross" logo, which was subsequently stamped onto each aspirin tablet, creating an iconic product that is still sold by Bayer. Other commonly known products initially commercialized by Bayer include heroin , phenobarbital , polyurethanes , and polycarbonates . In 1925, Bayer merged with five other German companies to form IG Farben , creating

9936-504: The unpleasant side effects of nausea and gastric pain . He also said he had invented the name aspirin and was the first person to use the new formulation to test its safety and efficacy. Bayer contends that aspirin was discovered by Felix Hoffmann to help his father, who had arthritis . Various sources support the conflicting claims. Most mainstream historians attribute the invention of aspirin to Hoffmann and/or Eichengrün. Heroin (diacetylmorphine), now illegal as an addictive drug,

10044-611: The war, some employees of Bayer appeared in the IG Farben Trial, one of the Nuremberg Subsequent Tribunals under US jurisdiction. Among them was Fritz ter Meer , who helped to plan the Monowitz camp (Auschwitz III) and IG Farben's Buna Werke factory at Auschwitz, where medical experimentation had been conducted and where 25,000 forced laborers were deployed. Ter Meer was sentenced to seven years, but

10152-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

10260-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

10368-492: The world's largest chemical and pharmaceutical company. The first sulfonamide and the first systemically active antibacterial drug, forerunner of antibiotics , Prontosil , was developed by a research team led by Gerhard Domagk in 1932 or 1933 at the Bayer Laboratories. Following World War II , the Allied Control Council seized IG Farben's assets because of its role in the Nazi war effort and involvement in

10476-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

10584-517: Was blamed for birth defects , and it was withdrawn from the market in the mid-1970s. Litigation in the 1980s ended inconclusively. A review of the matter by the Medicines and Healthcare products Regulatory Agency in 2014 assessed the studies performed to date and found the evidence for adverse effects to be inconclusive. In 1978, Bayer purchased Miles Laboratories and its subsidiaries Miles Canada and Cutter Laboratories , acquiring along with them

10692-428: Was discontinued; its products are now marketed under the Bayer name. On 16 September 2019, under the approval of National Company Law Tribunal, Bayer completed the merger of Monsanto India. Bayer's Monsanto acquisition is the biggest acquisition by a German company to date. However, owing to ongoing litigation concerning the Monsanto's herbicide Roundup and the massive financial and reputational blows it has caused Bayer,

10800-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

10908-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

11016-408: Was impossible, so the company moved to the village Wiesdorf at Rhein and settled in the area of the alizarin producer Leverkus and Sons . A new city, Leverkusen , was founded there in 1930 and became home to Bayer AG's headquarters. The company's corporate logo, the Bayer cross, was introduced in 1904, consisting of the word BAYER written vertically and horizontally, sharing the Y and enclosed in

11124-451: Was introduced as a non-addictive substitute for morphine , and trademarked and marketed by Bayer from 1898 to 1910 as a cough suppressant and over-the-counter treatment for other common ailments, including pneumonia and tuberculosis . While Bayer scientists were not the first to make heroin, the company did lead the way in commercializing it. Heroin was a Bayer trademark until after World War I. Bayer's director of pharmacology did not want

11232-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

11340-420: Was released in 1950. Despite being a convicted nazi war criminal , Ter Meer was elected as chairman of Bayer AG's supervisory board in 1956, a position he retained until 1964. Helge Wehmeier, then CEO of Bayer, offered a public apology in 1995 to Elie Wiesel for the company's actions during World War II (1939–1945) and the Holocaust . In 1953, Bayer brought the first neuroleptic ( chlorpromazine ) onto

11448-714: Was the largest take-over in Bayer's history, and as of 2015, was one of the ten biggest pharma mergers of all time. In November 2010, Bayer AG signed an agreement to buy Auckland-based animal health company Bomac Group. Bayer partnered on the development of the radiotherapeutic Xofigo with Algeta, and in 2014, moved to acquire the company for about $ 2.9 billion. In 2014, Bayer agreed to buy Merck's consumer health business for $ 14.2 billion which would provide Bayer control with brands such as Claritin, Coppertone and Dr. Scholl's. Bayer would attain second place globally in nonprescription drugs. In June 2015, Bayer agreed to sell its diabetic care business to Panasonic Healthcare Holdings for

11556-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

11664-726: Was withdrawn from the market worldwide in 2007 when reports of increased mortality emerged; it was later re-introduced in Europe but not in the US. In 2014, pharmaceutical products contributed €12.05 billion of Bayer's €40.15 billion in gross revenue. In 2019, identified "key growth" products were Xarelto ( rivaroxaban ), Eylea ( aflibercept ), Stivarga ( regorafenib ), Xofigo ( radium-223 ), and Adempas (riociguat). Top-selling products as of 2014 included: Bayer produces various fungicides, herbicides, insecticides, and some crop varieties. In 1994, Bayer AG purchased Sterling Winthrop's over-the-counter (OTC) drug business from SmithKline Beecham and merged it with Miles Laboratories, thereby reclaiming

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