History

Highlights in the recent history of the Bayer Group

1996	On June 3, Bayer’s capital stock is redenominated into shares of DM 5 par value instead of DM 50.

1998	Effective July 1, the existing par-value shares of Bayer AG’s capital stock are replaced by no-par shares.

1999	To mark the 100th birthday of Aspirin® on March 6, professional mountaineers wrap Bayer’s former high-rise headquarters building in Leverkusen, transforming it into the world’s biggest Aspirin® pack and earning the company three entries in the Guinness Book of Records.

2000	Acquisition of the polyols business of Lyondell Chemical Company, United States, makes Bayer the world’s biggest producer of raw materials for polyurethanes.

2001	Bayer acquires Aventis CropScience for €7.25 billion, making it a world leader in crop protection. On December 6, the company‘s management announces plans to establish independent operating subsidiaries under the umbrella of a management holding company.

2002	Bayer CropScience AG is launched in October as the first legally independent Bayer subgroup.

2003	In February, the World Health Organization (WHO) includes acetylsalicylic acid, the active ingredient in Aspirin®, in its “List of essential medicines”.

2003

In October, the subgroups Bayer Chemicals AG and Bayer HealthCare AG and the service company Bayer Technology Services GmbH gain legal independence as part of the reorganization of the Bayer Group. The subgroup Bayer MaterialScience AG and the service companies Bayer Business Services GmbH and Bayer Industry Services GmbH & Co. OHG follow in December.

2004	In January the Group’s world-famous trademark, the Bayer Cross, celebrates its centennial.

2004	In June, Bayer becomes the first private-sector partner to the United Nations Environment Programme (UNEP) in the area of youth and environment. Bayer provides material support and additional funding of €1 million annually to promote various projects over an initial period of three years.

2005	In January, Bayer completes the acquisition of the Roche consumer health business, advancing to become one of the world’s top three suppliers of nonprescription medicines.

2005	Lanxess AG is spun off from the Bayer Group on January 28. This company continues Bayer’s chemicals business and parts of its polymers business.

2005	In December, the U.S. Food and Drug Administration approves sorafenib (tradename: Nexavar®), an active ingredient jointly developed by Bayer HealthCare and Onyx Pharmaceuticals Inc., for the treatment of advanced renal cell carcinoma.

2006	In January, Bayer Innovation GmbH, a subsidiary for the development of new business fields, acquires biotech company Icon Genetics AG, which discovers innovative methods for the development and use of genetically engineered plants.

2006	In March, Bayer announces a public takeover offer for Schering AG, Berlin, Germany. In July, Bayer gains control of 92.4 percent of the approximately 191 million outstanding Schering shares. In December, Schering AG is officially renamed Bayer Schering Pharma AG.

2007

In January, an Extraordinary Stockholders’ Meeting of Bayer Schering Pharma AG resolves to effect a “squeeze-out” of the remaining minority stockholders. Bayer Schering Pharma AG, headquartered in Berlin, now operates together with Bayer’s existing Pharmaceuticals business as a division of the Bayer HealthCare subgroup.

2007	In January, Bayer sells the Diagnostics Division of Bayer HealthCare to Siemens AG, Munich, for €4.2 billion.

2007	In March it is announced that the BayArena stadium, home of German Bundesliga soccer team Bayer 04 Leverkusen, is to be modernized and enlarged to accommodate a crowd of over 30,000.

2007	In May, Bayer announces that its high-rise former headquarters building is to be converted into one of the world’s largest media facades. Completion is scheduled for 2009.

2007	In August, Bayer hosts the TUNZA International Youth Conference of the United Nations Environment Programme (UNEP) in Leverkusen, the first time this youth environmental summit has been held in central Europe. 180 young people from 85 countries debate global environmental issues.

2007	Centennial celebration: in September, the 100th season of the Bayer Cultural Affairs Department gets under way.

2007	November sees the launch of the integrated, Group-wide Bayer Climate Program. The program’s goals include a further reduction in CO₂emissions from Bayer’s production facilities.

The names "Bayer Schering Pharma" or "Schering" as used in this website always refer to Bayer Schering Pharma AG, Berlin, Germany, or its predecessor, Schering AG, Berlin, Germany, respectively.