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Bayer Pharmaceuticals has not announced closure of business in Pakistan

Bayer Pakistan is a Life Science company with a 58 year history

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Claim: Bayer Pharmaceuticals has announced they will halt operations in Pakistan, and company assets have been sold to another business. The news was shared by X (formerly Twitter) user (@asadnasir2000) and he cited a Daily Times article titled, “Bayer pharmaceutical company announces closing business in Pakistan,” as a source.

Fact: The tweet and the article are misleading, as they do not accurately reflect Bayer’s statement on its strategic review of its manufacturing activities in Pakistan. Bayer has not announced that it will halt its operations in Pakistan but rather that it intends to transfer selected assets, including its manufacturing plant in Lahore and some brands, to another company. Bayer will continue operating its pharmaceuticals, consumer health, and crop science businesses in Pakistan, and there will be no layoffs as part of the transaction. 

The tweet by Asad Nasir, posted on 23 June 2023, reads: 

“🚨 BREAKING NEWS :-

One of the largest pharmaceutical company in the world, Bayer has announced to halt its operations in Pakistan. The company assets have been sold to a nearby business.
Source : Daily Times” 

The tweet sources a Daily Times article with the same headline as the claim.  The article states that Bayer has decided to close its business in Pakistan due to “unfavourable conditions” and that it has sold its assets to another company. The article quotes an unnamed source who said that Bayer’s employees have been given a two-year job guarantee by their new employer. The article also mentions Bayer’s statement on its strategic review of its manufacturing activities in Pakistan, but does not provide the full text or a link to it.

Soch Fact Check decided to investigate the claim that Bayer has announced they will halt operations in Pakistan and that company assets have been sold to another business.

Fact or Fiction?

Soch Fact Check found Bayer’s statement on its website, dated 23 June 2023. The statement reads:

“Karachi, June 23, 2023: Bayer is currently evaluating its manufacturing activities to determine strategic focus going forward. The company aims to enhance the competitiveness of its manufacturing capabilities and support the transformation of its pharmaceutical business to achieve long-term, sustainable growth.

As part of this strategic review, Bayer intends to transfer selected assets, including its Pharmaceutical and Consumer Health manufacturing plant based in Lahore, Pakistan, as well as selected brands from the Pharmaceuticals and Consumer Health portfolios, to an international diversified company with a strong presence in Pakistan.

Affected Bayer Pakistan employees will be transferred to the acquiring company with a two-year job guarantee, comparable compensation, and special bonuses. There will be no layoffs as part of this transaction. Impacted employees have already signed offer letters issued by the acquirer.

Bayer has been a part of Pakistan’s healthcare and agriculture landscape for the last 60 years, demonstrating a commitment to creating greater value for customers, stakeholders, and society as a whole. The company will continue operating its Pharmaceuticals, Consumer Health, and Crop Science businesses in Pakistan, in line with its global vision, Health for All, Hunger for None.”

The statement clearly contradicts the claim that Bayer has announced they will halt operations in Pakistan and that company assets have been sold to another business. Rather, it states that Bayer intends to transfer selected assets, including its manufacturing plant in Lahore and some brands, to another company as part of its strategic review of its manufacturing activities. It also states that Bayer will continue operating its pharmaceuticals, consumer health, and crop science businesses in Pakistan, and that there will be no layoffs as part of the transaction.

Soch Fact Check contacted Bayer Pakistan for further clarification on the matter. A spokesperson for the company confirmed that the statement on their website is accurate and up-to-date, and that they have not announced any closure of their business in Pakistan. The spokesperson also said that they have not disclosed the name of the acquiring company yet, as the transaction is still subject to regulatory approvals and other customary closing conditions.

Virality

The tweet in the claim was viewed over 58,300 times and gathered over 1600 interactions on Twitter. 

Conclusion: The claim that Bayer Pharmaceuticals has announced they will halt operations in Pakistan and that company assets have been sold to another business is misleading, as it does not accurately reflect Bayer’s statement review of its manufacturing activities in Pakistan. Bayer has not announced that it will halt its operations in Pakistan, but rather that it intends to transfer selected assets, including its manufacturing plant in Lahore and some brands, to another company. Bayer will continue operating in Pakistan, and there will be no layoffs as part of the transaction.

 

To appeal our fact-check, please send an email to appeals@sochfactcheck.com 

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