German drugs-to-seeds company Bayer said on Sept. 30 that it did not expect any growth in sales next year, and that earnings would be “slightly below” this year’s levels, largely due to weaker than expected performance in its crop science division.
As a result, Bayer expects to take non-cash impairment charges in the “mid to high single-digit billion euro” range on its crop science business, and announced 1.5 billion euros of cost cuts.
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