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Bayer to Cut More Costs as Farm Business Hurts – The Wall Street Journal


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Bayer to Cut More Costs as Farm Business Hurts – The Wall Street Journal

BERLIN—Bayer AG unveiled on Wednesday billions in new costs cuts to offset falling demand in agricultural products—the market on which it had made a huge bet with its acquisition of Monsanto. The German chemicals and pharmaceuticals company said the coronavirus pandemic would hit its crop-science business harder than anticipated as prices for various crops fell,…

BERLIN—Bayer AG unveiled on Wednesday billions in new costs cuts to offset falling demand in agricultural products—the market on which it had made a huge bet with its acquisition of Monsanto.

The German chemicals and pharmaceuticals company said the coronavirus pandemic would hit its crop-science business harder than anticipated as prices for various crops fell, consumption of biofuel decreased and competition in the soy market intensified.

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