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 "We have an animal health business that is not small, with good
products in the market," Chief Executive Marijn Dekkers said in a
conference call.
"We believe we have a good animal health business that can very well
operate on its own."
Any proceeds from a separate listing of the Bayer MaterialScience
division might be used to cut debt.
Analysts have previously said they expected Bayer to bulk up its
veterinary drugs unit, possibly eyeing larger rival Zoetis.
Spending "very much money" on deals could pose a challenge to
Bayer's credit rating, Dekkers warned.
The CEO also said Bayer had no intention to sell MaterialScience and
would continue to prepare the listing.
Private equity firms are circling Bayer's 10 billion-euro ($12.7
billion) plastics business, hoping to divert the German drugmaker
from its plan to list the division, two people familiar with the
matter told Reuters last week.
[to top of second column] |
(Reporting by Ludwig Burger; Editing by Maria Sheahan)
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