Bayer is looking to shake things up with some major company changes after reporting “not acceptable” cash flow for the third quarter on Wednesday.
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Prescription drug sales would be flat and not up by about 1% as previously targeted, with the profit margin seen at about 28% this year, down from a previous goal of more than 29%.
Germany’s IGBCE union opposes any splitting-up of Bayer after the departure of its chief executive and warned that the company should not bow to pressure from hedge fund activism, taz newspaper reported on Thursday.