You would think that being one of the largest pharmaceutical companies in the world would allow for the profits to flow in spite of a pandemic. At any given time, somebody in the world needs some medicine. However, Bayer has created one of the biggest self-inflicted wounds in business history by buying Monsanto two years ago for $63 billion (USD).
Last week, Bayer announced that the corporation experienced a second quarter loss of 9.5 billion euros. Bayer should not have experienced a loss because hospitals from all over the world need certain drugs that are manufactured by Bayer to help patients overcome the symptoms of the coronavirus. The more drugs taken by patients, the more money Bayer should make.
However, Bayer has lost money during the Covid-19 pandemic. Bayer had to shell out $10.9 billion (USD) in settlements over RoundUp cases in which people contracted cancer from using the weedkiller. Due to their callous mistake of buying Monsanto, the soccer team that they own, Bayer Leverkusen will be forced to downsize next season. Midfielder Kai Havertz is the best player on the Leverkusen roster since Michael Ballack left Leverkusen back in 2002. Instead of building the team around the 21-year-old, Leverkusen is currently in talks with teams to sell off his contract for 90 million euros.
If you are an investor, then I hope that you do not invest in Bayer.