Big pharma Bayer will spin off its plastics unit as the company moves further toward focusing solely on the life sciences market.
The plastics unit is valued at around $10 billion and Bayer’s supervisory board has unanimously approved the plans.
Bayer’s Material Science division posted sales of $14 billion last year, according to Business Insider.
The Material Science portion of the company is dedicated to producing polymers and polycarbonates.
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