Bayer, the German drugmaker that bought US seed company Monsanto, on Thursday announced the sale of a number of businesses, job cuts affecting 10% of its staff and €3.3bn in impairments. CE Werner Baumann is under pressure to boost Bayer’s share price after a drop of more than 35% so far in 2018, dragged lower by concern over more than 9,000 lawsuits it faces over an alleged cancer-causing effect of Monsanto weed killer Roundup. The group is looking into strategic options for product lines Coppertone for sunscreen and Dr Scholl’s for foot care, among the main brands of Merck & Co’s consumer health-care division it bought in 2014 for $14bn. Bayer will also divest its animal health division, the fifth-biggest player in the industry, which analysts have said could fetch €6bn-€7bn. It would seek a buyer for its 60% stake in German chemical production site services provider Currenta. All three possible transactions were previously flagged by Reuters reports. Under a cost-cutting programm...

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