Bayer may spin off its crop sciences division which includes Monsanto, says German news service Platow Brief.
The division is based in Creve Coeur, Mo., (St. Louis).
Bayer said the article “is based purely on speculation.”
Bayer bought Monsanto for $63 billion US in June, 2018, and then in August lost the first of several expensive court cases from people who said Roundup is responsible for their cancer.
The company has also won six consecutive trial victories.
Werner Baumann, who was chief executive officer when the Monsanto purchase was made, retired at the end of May after a 35-year career with Bayer.
The new boss, Bill Anderson, a native of Texas, joined Bayer in April and assumed leadership of the company on June 1. Anderson was most recently the head of Roche’s pharmaceuticals division.
A Reuters article published Monday morning says a decision by Anderson and team to sell the Crop Science division “would be tricky but bountiful” for Bayer.
“If it offloads the Crop Science division, Bayer could indemnify the new owners against the cost of future litigation up to a certain point.
“Anderson also needs to consider how he will fund future drug discoveries at the pharmaceutical business, which would remain after a spinoff,” the article said.
