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HomePosts Tagged "Bayer AG"
Agribusiness, Agro chems – Chemicals, Company News, India

With this acquisition, Dhanuka plans to expand its footprint in more than 20 countries, including the regions of LATAM, EMEA and Asia including India.

Dhanuka Agritech Limited, one of India’s leading agri input companies, has signed an agreement to acquire international rights to the active ingredients Iprovalicarb and Triadimenol. With this acquisition, Dhanuka plans to expand its footprint in more than 20 countries, including the regions of LATAM, EMEA and Asia including India. These products were invented by Bayer AG, a global leader in agriculture input solutions and farming innovations. This acquisition will enable Dhanuka to embark on a journey of global market expansion.

Under this acquisition, Dhanuka Agritech Limited will get all the rights for manufacturing and sale of Iprovalicarb and Triadimenol in more than 20 countries.  In this transaction, Dhanuka will acquire the global rights to the associated brand Melody (for Iprovalicarb) with sub-brands like Melody Duo, Melody Compact, Melodika and others. As part of the Agreement, the companies have agreed on a transition plan that allows Dhanuka to provide seamless service, ensuring no disruption for growers and customers globally. Further, Dhanuka will be shifting the manufacturing of at least one of the products to India, leveraging the capabilities of its manufacturing unit at Dahej, Gujarat. The agreement will strengthen Dhanuka’s market position by providing a jump to both the topline and bottom-line by selling its products in India and global markets.

Iprovalicarb is a fungicide from the Carboxylic Acid Amines (CAA) class, used for disease management caused by Oomycetes species in Horticulture crops.Triadimenol is a well-established product used in seed treatment for cereals and cotton as a solo formulation and as a part of multiple treatment seasonal program in coffee as a pre-mix. Triadimenol is a SBI class 1, DMI triazole fungicide to control various diseases.

“Dhanuka is excited to embark on this journey with Bayer AG, as we expand our footprint in these key markets. This agreement not only strengthens our market presence but also reinforces our commitment to delivering exceptional products and services to customers worldwide” said Harsh Dhanuka, Executive Director – Dhanuka Agritech Ltd.

This agreement highlights Dhanuka’s continued focus on strategic growth and commitment to maintaining strong relationships with customers and stakeholders. Dhanuka is confident that this will provide value to growers across the globe.

With this acquisition, Dhanuka plans to expand

Company News, People, World

Julio Triana is currently Head of Commercial Operations Region International for Bayer’s Pharmaceuticals Division

The Supervisory Board of Bayer AG has appointed Julio Triana to Bayer’s Board of Management effective April 1, 2024. He will become President of the Consumer Health Division effective May 1, 2024, and succeed Heiko Schipper, who has asked the Supervisory Board to bring forward the end date of his contract to pursue a career opportunity outside of Bayer. Schipper will leave the company effective April 30, 2024. 

Julio Triana is currently Head of Commercial Operations Region International for Bayer’s Pharmaceuticals Division, a member of the Division’s Executive Committee as well as the Senior Bayer Representative Japan and President of Bayer Holding, Ltd. Japan. Triana is a very seasoned executive with a dynamic 30-year career in the global healthcare industry. He joined Bayer in 2002 and has held roles of increasing responsibility in Finance, Strategy, Business Development and most recently Commercial Operations, among others. Triana holds an MBA from Universidad Antonio de Nebrija (Madrid, Spain) as well as a Bachelor of Science in Biology from the University of Houston (Houston, Texas, USA). He has comprehensive experience in leading and transforming large organizations across multiple functions and in different cultural contexts with a strong track record of successful market expansions, sustainable revenue growth and orchestrating complex integrations.

Julio Triana is currently Head of Commercial Operations

Agribusiness, Agro chems – Chemicals, Company News, Finance

The Board of Management and the Supervisory Board will present this dividend proposal for shareholder vote at the Annual Stockholders’ Meeting on April 26, 2024.

Bayer AG plans to amend its dividend policy to pay out the legally required minimum for three years. This follows a review of the company’s capital allocation priorities to reduce debt. This change would result in a dividend of 0.11 euros per share for fiscal year 2023. The Board of Management and the Supervisory Board will present this dividend proposal for shareholder vote at the Annual Stockholders’ Meeting on April 26, 2024.

This proposal comes as the company faces a high level of debt, coupled with high interest rates and a challenging free cash flow situation. “One of our top priorities is reducing debt and increasing flexibility,” said CEO Bill Anderson. “Our amended dividend policy, which considered investor input and was not taken lightly, will help us do so.”

As previously communicated, the company is well underway in implementing a new operating model called “Dynamic Shared Ownership” worldwide, which will reduce hierarchies, eliminate bureaucracy, streamline structures and accelerate decision-making processes. The aim of the new operating model is to make the company much more agile and significantly improve its operational performance. This also includes significant job reductions. “All of these measures are necessary to position the company for future success. We are confident that our approach to deleveraging will benefit all stakeholders over the longer term,” Anderson said.

The Board of Management and the Supervisory

Agrotech, Company News

MustGrow to receive upfront license fees and milestone payments, royalties and manufacturing sales linked to development and commercial achievements

MustGrow Biologics Corp announced the signing of a collaboration agreement with Bayer AG covering soil applications of MustGrow’s mustard-based biocontrol technologies in Europe, the Middle East and Africa, excluding home and garden, turf and ornamental applications.

Under the terms of the Agreement, MustGrow will receive an initial upfront payment as well as additional payments linked to the achievement of certain business milestones. Upon the commencement of commercial sales, MustGrow will also be entitled to fees from royalties and manufacturing sales. Additionally, Bayer will be responsible for regulatory and market development work in the respective field of use necessary to commercialize MustGrow’s mustard-based biocontrol technologies, including the development of the formulated product, conducting relevant regulatory data studies for regulatory submissions, filing regulatory submissions, registration with relevant regulatory authorities, and support, marketing, and commercial sales activities. MustGrow anticipates that the value of the upfront, milestone payments and Development Work could approximate $35 to $40 million over the next several years (not including additional fees from royalties and manufacturing sales).

“Biologicals are part of an exciting frontier that offers new solutions for the challenges that growers face across the world,” said Benoit Hartmann, Head of Biologics for Bayer. “We’re committed to working with leading innovators like MustGrow to accelerate the development of innovative biological solutions that provide safe, sustainable options for farmers and are looking forward to continuing our work together.”

Under the Agreement, Bayer has also been granted a right-of-first-negotiation for a license to use MustGrow’s mustard-based biocontrol technologies for use in bananas in particular applications, excluding postharvest applications. MustGrow expects to continue collaborating with Bayer to consider other potential applications of MustGrow’s mustard-based biocontrol technologies, including potential testing in regions not currently covered by the Agreement.

MustGrow to receive upfront license fees and

Agri Genomics, Agro Universities, Agrotech, Europe, R&D

 Bioethics Council aims to focus on the development of new biotechnological and artificial intelligence-based solutions

Bayer AG has established a Bioethics Council consisting of internationally renowned experts, to provide broad independent perspective and guidance on current bioethical questions, particularly with regard to the development of new biotechnological and artificial intelligence-based solutions. Bayer is committed to using emerging technologies in an ethically responsible way as part of its business and R&D activities across all its divisions. The Bioethics Council will maintain regular dialogue with Bayer leadership on the implementation and long-term development of Bayer’s Bioethics Policy.

“Dr Michael Devoy, Chief Medical Officer of Bayer’s Pharmaceuticals Division said, “Their expertise provides us with guidance on complex bioethical issues. Innovations in life sciences can raise ethical questions that society needs to discuss. In the interest of transparency, we deem it important to include a societal perspective early in our research and product development process through the external Bioethics Council”.

To this end, the Bioethics Council focuses, among others, on the further development and implementation of Bayer’s Bioethics Policy. This policy represents a company-wide ethical framework for decisions relevant to R&D innovations in the life sciences. It covers medical topics, bioengineering, and artificial intelligence. The Bioethics Policy specifically gives guidance on issues related to the discovery, development, production and application of treatments and therapies to promote human health, and in agricultural products and services.

Dr Monika Lessl, Head of Corporate R&D and Social Innovation at Bayer AG. said, “We are aware of our responsibility as a research company and therefore want to actively participate in the further development of bioethical standards in dialogue with society. Exchange with external experts is essential for this,” she emphasized.

Dr. Axel Trautwein, Head of Regulatory Science at Bayer Crop Science, added: “Developing innovations in the life sciences, particularly in biotechnology, inevitably requires a thorough assessment of the ethical implications for people and the environment. Bayer wants to raise and uphold high bioethical standards throughout its operations – with the help of the Bioethics Council. Being transparent about our approach and our progress in this process is the cornerstone of all our efforts in building a solid ethical framework for our business.”

The Bioethics Council convenes twice a year. In addition, the experts offer support on specific questions, either individually or in small teams. The Council is designed in several ways to safeguard the independence of its members. The experts provide external independent advice and do not represent Bayer or its operations.

The Council currently has ten members. Bayer will regularly report on its work.Members of the Bayer Bioethics Council are:

Carolina Aguerre, Professor of Humanities and Social Sciences, Universidad Católica del Uruguay

I. Glenn Cohen, Professor of Law and Faculty Director, Petrie-Flom Center for Health Law Policy, Biotechnology & Bioethics, Harvard Law School

Gry Hasselbalch, PhD, Independent scholar

Insoo Hyun, Director of the Center for Life Sciences and Public Learning, Boston Museum of Science

Andreas Kurtz, Head of the Human Pluripotent Stem Cell Registry (hPSCreg, former European Human Embryonic Stem Cell Registry)

Sir Jonathan Montgomery, Professor of Health Care Law, University College London

Jonathan D. Moreno, Professor of Medical Ethics & Health Policy and of the History & Sociology of Science, University of Pennsylvania

Anne Muigai, Professor of Genetics and Deputy Vice Chancellor of Academic Affairs and Research at the National Defence University-Kenya

Sonny Ramaswamy, President of the Northwest Commission on Colleges and Universities in Redmond, WA, USA

Julian Savulescu, Chen Su Lan Professor in Medical Ethics at the National University of Singapore.

 Bioethics Council aims to focus on the

Agro chems – Chemicals, Company News, Europe, People

Bill Anderson, a chemical engineer by education, has served in various leadership positions in the life science industry over the past 25 years.

 The Supervisory Board of Bayer AG has appointed Bill Anderson to become CEO of Bayer, effective June 1, 2023. He will join Bayer as a member of the Board of Management on April 1, 2023. Bill Anderson was elected unanimously after a thorough selection process which began mid last year. Werner Baumann (60), current CEO of Bayer, will work closely with him on a smooth transition before retiring from Bayer after 35 years of service at the end of May 2023.

Bill Anderson (56), a chemical engineer by education, has served in various leadership positions in the life science industry over the past 25 years. Bill Anderson holds a Bachelor of Science in Chemical Engineering from the University of Texas, and Master of Science degrees in Chemical Engineering and Management from the Massachusetts Institute of Technology (MIT).

Most recently, he served as CEO of Roche’s Pharmaceuticals Division, where he successfully led a comprehensive transformation program which resulted in many successful new product launches, significant revenue growth, and greater productivity across the organization. Before this role, Anderson was CEO of Genentech, one of the pioneering companies in the biotech field.

Previously, Bill Anderson held several senior leadership positions in general management, product development, and finance at Biogen, another innovation leader in the biotech sphere, and Raychem, an American technology and electronics company. During his time at Biogen, Genentech, and Roche, Anderson was involved in the development and launch of 25 new medicines, including 15 blockbusters. In addition to his native country, the United States, Bill Anderson has lived and worked in several European countries with postings in the United Kingdom, the Netherlands, Belgium, and Switzerland. In his new role, he will be based in Leverkusen, Germany.

“We are very excited to welcome Bill Anderson as new CEO of Bayer. He is the ideal candidate to lead Bayer together with the team into a new, successful chapter at a time of a disruptive innovation cycle in biology, chemistry, and artificial intelligence. Bill has an outstanding track record of building strong product pipelines and turning biotech breakthroughs into products. Beyond that, he is a truly transformational leader who creates a culture that propels innovation, boosts productivity and performance, and allows people to thrive,” said Prof. Dr Norbert Winkeljohann, Chairman of the Supervisory Board of Bayer AG.

The new CEO-elect, Bill Anderson, said: “Bayer is an innovative company that is already delivering tremendous benefits for the nutrition, health, and environmental protection of the world. Its leading R&D investments in agriculture, medicines and consumer health hold the promise for additional breakthroughs. I look forward to working with the people of Bayer to accelerate innovation, increase performance, advance sustainability, and unleash the full potential of the company.”

Bill Anderson, a chemical engineer by education,