FRANKFURT—Bayer, the German drugmaker that bought U.S. seed company, Monsanto, announced on Nov. 29 the sale of a number of businesses, around 12,000 job cuts and 3.3 billion euros ($3.8 billion) in impairments.
Chief Executive Werner Baumann is under pressure to boost Bayer’s share price after a drop of more than 35 percent so far this year, dragged down by concern over more than 9,000 lawsuits it faces over an alleged cancer-causing effect of Monsanto’s Roundup weed killer.
