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Bayer pharmaceutical company also announces closing business in Pakistan

Creator: WOLFGANG RATTAY | Credit: REUTERS

In the midst of Pakistan’s economic crisis, the multinational pharmaceutical company Bayer announced its decision to halt operations there. The company’s assets were sold to a nearby business.

This is the second foreign pharmaceutical company to recently leave Pakistan. Eli Lilly, an American pharmaceutical company, also declared its exit from the nation in November 2022.

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Following the departure of another multinational corporation, employees are demanding guarantees of job security and separation packages in accordance with the company’s global policies because they are worried about possible job losses under the new management.

According to Bayer’s management, it sold its assets to a local business that promised existing workers job security for at least two years. As a result, the workers who will still be employed have not asked for severance packages.

Local staff members of the German multinational protested at the National Press Club, demanding payment equating to 60 to 100 months’ worth of salaries, in accordance with the customary severance procedures followed by other businesses around the world.

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During the demonstration, the affected workers pleaded with the President, Prime Minister, and Chief Justice to address their complaints and make sure that the company is upholding their legal rights.

The staff has spoken with the decision-makers to request that they step in and enforce the company’s policies. They contend that while laws are strictly adhered to in Western nations when businesses fire employees, this is not the case in developing nations, where it is frequently illegal.

Who is Bayer Pharmaceutical?

Bayer is a multinational pharmaceutical and life sciences company that operates in various countries, including Pakistan. In Pakistan, Bayer has a presence and conducts business in the pharmaceutical, consumer health, and crop science sectors. They offer a range of products in these areas, including prescription medications, over-the-counter drugs, and agricultural solutions.

Bayer’s pharmaceutical division in Pakistan focuses on providing innovative healthcare solutions and medicines to patients in areas such as cardiology, oncology, women’s health, and general medicine. They collaborate with healthcare professionals, hospitals, and other stakeholders to improve access to quality healthcare in the country.

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It’s important to note that as my knowledge was last updated in September 2021, I may not have the most recent information on any specific developments or changes regarding Bayer’s operations in Pakistan. For the latest updates, I recommend reaching out to Bayer directly or referring to reliable sources such as news websites or official company announcements.

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