Bayer, Germany's biggest drug maker, has announced plans for a new corporate set-up for its life-science businesses, after its MaterialScience plastics division is split off.
Bayer will merge its remaining HealthCare and CropScience divisions into one "pure life-sciences company." It has yet to be decided if the MaterialScience division will be a split off or initial public offering.
A Bayer spokesman told media sources employees were recently informed that a team had been set up to map out the new structure, which will not entail job cuts.
The reorganization is due to be completed in January 2016.
Read the Bloomberg article