German pharmaceutical firm Bayer has announced plans to axe around 12,000 jobs worldwide, including 900 in R&D, as part of a move to “strengthen its core life science businesses”.
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Bayer intends to exit the animal health business and stop working on any consumer health products that “have more favourable development potential outside” the company. It will also divest its 60 per cent stake in the German site services provider Currenta.
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