To compensate shareholders for the lackluster year in 2001, Bayer announced that it would distribute to investors the net income of parent company Bayer AG, totaling 657 million euro and equaling a dividend of 0.90 euro per share. However, despite the significant decrease in net income, net sales for the entire Bayer Group fell by 2.2 percent. for 206 million euro and the polyols business of Lyondell Chemical Company for 202 million euro. Several significant acquisitions also factored into Bayer's year-end statement, including the purchase in 2000 of Sybron Chemicals Inc. The following month terrorist attacks in the United States significantly depressed the stock market. In August of 2001 Bayer was forced to withdraw its new cholesterol drug Baycol/Lipobay after reports of 52 patient deaths, and the company experienced production problems with its product Kogenate, used to treat hemophilia. Bright spots for the company included health care's consumer care and diagnostic divisions, which jumped in operating revenue from £177 million in 2000 to £341 million in 2001, and the agricultural division, which reported operating results of £6, up from £584 in 2000.īayer's financial difficulties in 2001 were due to several factors.
The biggest hits came in health care's pharmaceuticals division, which posted an operating result of £51 million in 2001 compared to £1.2 billion in 2000, and polymers, which posted an operating result of 284 million euro in 2001 compared to 988 million euro in 2000. The operating results for health care and polymers fell 71 percent, and chemicals dropped 49 percent. During the year, Bayer took significant hits in three of its four divisions. The 2001 year-end stock price was 35.80 euro per share, down from £55.87 at the end of 2000, and the company's market capitalization fell from 26.1 billion euro to 15 billion euro. (The average exchange rate in 2001 for 1 euro was $0.90.) Earnings per share also dropped significantly from 2.49 euro per share in 2000 to 1.32 euro per share in 2001. In 2001 Bayer Group posted a net profit of 965 million euro on net sales of 30.3 billion euro, down from a net profit of 1.8 billion euro on 31.0 billion euro in sales in 2000. The chemical division's business groups include basic and fine chemicals and specialty products, as well as subsidiaries Haarmann & Reimer, H.C. The polymers division consists of five business groups: plastics, rubber, polyurethanes, coatings and colorants, and fibers. Bayer's crop science business group focuses on crop protection. The diagnostics group provides diagnostic tools to assist in identifying diseases in their early stages of development. The consumer care business group researches, develops, manufactures, and markets nonprescription, over-the-counter products as well as pest control products. The pharmaceutical business group researches, develops, manufactures, and markets prescription drugs. The health care segment consists of five business groups: pharmaceuticals, biological products, consumer care, diagnostics, and animal health. The parent company operates four major divisions: healthcare, crop science, polymers, and chemicals. w-1 leverkusen, germanyīayer AG is a globally diversified chemicals company with more than 350 individual companies in its portfolio.
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