Bayer AG

Bayer AG  is a chemical and pharmaceutical company founded in Barmen (today a part of Wuppertal), Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany and well known for its original brand of aspirin.Bayer AG was founded in Barmen (today a part of Wuppertal), Germany in 1863 by Friedrich Bayer and his partner, Johann Friedrich Weskott.Bayer's first major product was acetylsalicylic acid (originally discovered by French chemist Charles Frederic Gerhardt in 1853), a modification of salicylic acid or salicin, a folk remedy found in the bark of the willow plant. By 1899, Bayer's trademark Aspirin was registered worldwide for Bayer's brand of acetylsalicylic acid, but because of the confiscation of Bayer's US assets and trademarks during World War I by the United States – and the subsequent widespread usage of the word to describe all brands of the compound —, "Aspirin" lost its trademark status in the United States, France, and the United Kingdom. It is now widely used in the US, UK, and France for all brands of the drug. However in over 80 other countries, such as Canada, Mexico, Germany, and Switzerland, it is still a registered trademark of Bayer.In 1904, the Bayer company introduced the Bayer cross as its corporate logo. Because Bayer's aspirin was sold through pharmacists and doctors only, and the company could not put its own packaging on the drug, the Bayer cross was imprinted on the actual tablets, so that customers would associate Bayer with its aspirin.As part of the reparations after World War I, Bayer assets, including the rights to its name and trademarks, were confiscated in the United States, Canada, and several other countries. In the United States and Canada, Bayer's assets and trademarks were acquired by Sterling Drug, a predecessor of Sterling Winthrop.The Bayer company then became part of IG Farben, a German chemical company conglomerate. During World War II, the IG Farben used slave labor in factories attached to large slave labor camps, notably the sub-camps of the Mauthausen Gusen concentration camp.IG Farben owned 42.5% of the company that manufactured Zyklon B,a chemical used in the gas chambers of Auschwitz and other extermination camps. After World War II, the Allies broke up IG Farben and Bayer reappeared as an individual business. The Bayer executive Fritz ter Meer, sentenced to seven years in prison by the Nuremberg War Crimes Tribunal, was made head of the supervisory board of Bayer in 1956, after his release.In 1978, Bayer purchased Miles Laboratories and its subsidiaries Miles Canada and Cutter Laboratories (along with a product line including Alka-Seltzer, Flintstones vitamins and One-A-Day vitamins, and Cutter insect repellent). In 1994, Bayer AG purchased Sterling Winthrop's over-the-counter drug business from SmithKline Beecham and merged it with Miles Laboratories, thereby reacquiring the U.S. and Canadian trademark rights to "Bayer" and the Bayer cross, as well as the ownership of the Aspirin trademark in Canada.On 2 November 2010, Bayer AG signed an agreement to buy Auckland-based animal health company Bomac Group.

Net income € 2.470 billion (2011)

Total assets € 52.77 billion (2011)