Bayer: Business In Brazil To Return To Normal In 2018 - Quick Facts

(RTTNews) - Bayer (BAYZF.PK, BAYRY.PK, BYR.L) announced, for 2018 overall, the company forecasts a return to growth in Brazil. As previously indicated, due to provisions for Brazil, Bayer is now anticipating sales of less than 10 billion euros (previously: sales of more than 10 billion euros) for its Crop Science Division in 2017. This corresponds to a low single-digit percentage decline on a currency- and portfolio-adjusted basis.

"Despite the current market volatility, our Crop Science business is well positioned to fulfill future customer, market and societal needs," said Liam Condon, President of the Crop Science Division.

Regarding the proposed acquisition of Monsanto, Bayer said an anticipated closing of the deal in early 2018 is now more likely than end of 2017. In consultation with the European Commission, Bayer filed an application on September 18 to extend the review deadline by ten working days until January 22, 2018, with the aim of facilitating an appropriate evaluation given the size of the transaction.

Bayer also outlined its current Crop Science R&D pipeline with 15 active ingredients and traits/trait combinations to be launched from 2017 to 2020. The integrated pipeline also contains more than 100 life-cycle management projects as well as several hundred new seed varieties in vegetable and broad acre crops.

Adrian Percy, global head of Research and Development for the Crop Science Division, said: "At Crop Science, we've been investing approximately EUR 1 billion annually in research and development to bring new products to the market to address the major challenges affecting farmers worldwide."

The company said it is committed to invest at least 200 million euros in its Digital Farming business between 2015 and 2020. Currently, Bayer provides digital solutions in more than 30 countries and is aiming to achieve rapid further expansion.