Bayer needed some good news after dealing with two years of lawsuits after acquiring Monsanto. However, bad decisions in life always seem to snowball out of control as the pharmaceutical giant now has to deal with the coronavirus.
The company was forwarded information earlier this week that one of their employees at the Bayer facility in Creve Coeur, MO has contracted COVID-19. To be on the safe side, Bayer has temporarily closed the Creve Coeur facility along with another one of their sites in downtown St. Louis. As further precaution, Bayer is also temporarily shutting down their buildings in Whippany, NJ and Morristown, NJ.
Being that Bayer’s profit margin will be ripped to shreds this year, having four facilities shut down will increase the losses on their balance sheet.