Bayer CEO On Europe's 'Identity Crisis'

The UK's decision to leave the European Union and a change in global politics that has prompted emotions to get in the way of facts are the catalysts for Europe's current identity crisis, says Bayer chief Werner Baumann. During the company's annual financial results presentation in Leverkusen, Germany, the CEO also called on European regulators to better protect innovation during times of political uncertainty.

Bayer Board
BAYER EXECS IN LEVERKUSEN (L-R): JOHANNES DIETSCH, WERNER BAUMANN, HARTMUT KLUSIK AND MICHAEL PREUSS • Source: Pink Sheet/Lucie Ellis

Bayer AG CEO Werner Baumann outlined ambitious 2017 goals for the German big pharma during the its Feb. 22 annual results conference, but he also said success for the wider biopharma industry is highly dependent on the fluctuating social and political environment in Europe and across the pond in the US.

Bayer's chief exec vowed to increase the firm's €4.4bn R&D budget in 2017 as the company continues to push late-stage...

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