Bayer cuts 900 pharma jobs to invest externally

Bayer AG (Xetra:BAYN) plans to increase its investment in external innovations using funds it will save from cutting 900 positions from its pharma division.

The company said it will also focus on "collaborative research models." Bayer spokesperson Rolf Ackermann told BioCentury the company's "Leaps by Bayer" program represents "the kind of cooperative and external innovation activities that will be strengthened in the future."...