Daily Times

Karachi, June 23, 2023: Bayer Pakistan has denied claims of the company’s exit from Pakistan and maintained that no such move is planned.

In a statement issued, the company stated, “Bayer is analyzing which of its manufacturing activities may no longer be of strategic focus going forward. In doing so, the company intends to strengthen the competitiveness of its manufacturing capabilities and support the transformation of its pharmaceutical business to deliver long-term, sustainable business growth. “

Bayer intends to transfer selected assets, including its Pharmaceutical and Consumer Health manufacturing plant in Lahore, Pakistan, as well as selected brands from the Pharmaceuticals and Consumer Health portfolios, as part of this strategic review.

Employees affected by the acquisition will be transferred to the acquirer with a two-year job guarantee, equivalent remuneration, and special bonuses. As a result of this deal, there have been no layoffs. Employees who have been affected have already signed offer letters from the acquirer.

For the past 60 years, Bayer has been a part of Pakistan’s healthcare and agriculture scene, displaying a dedication to producing better value for customers, stakeholders, and society as a whole. In Pakistan, the company continues to operate its Pharmaceuticals, Consumer Health, and Crop Science businesses in accordance with its global goal of Health for All, Hunger for None.