Bayer ‘All Hands On Deck’ For US Consumer Business Turnaround
“There is a ton of work still for us to do,” Erica Mann, Bayer’s global consumer head, said after the firm reported disappointing second-quarter results. The root of the problem is over-estimating the revenue boost from former Merck & Co. brands, the firm says.
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Bayer's Consumer Health chief Heiko Schipper hopes a focus on innovation and a leaner portfolio will help return business to mid-single-digit growth by 2022. German firm has identified North American business as the "key area to fix."
Bayer's Consumer Health chief Heiko Schipper is hoping a focus on innovation and a leaner portfolio will help return the business to mid-single-digit growth by 2022. The German firm has identified its North American business as the 'key area to fix'.
Bayer will sell Coppertone sunscreen and Dr. Scholl’s foot care brands to focus on growing its core consumer health brands. Although the plan represents ‘failure” in turning around sales for both brands, it is a ‘sensible’ move, say analysts.