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Big pharma, Bayer signs a spins off its plastics unit

Posted on 19 September 2014

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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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