A1CNowTM
- User-friendly device for measuring the long-term blood glucose level A1c at doctors’ offices and diabetes outreach clinics
Adalat™
- Drug product for the treatment of hypertension; active ingredient: nifedipine
Admire™
- Insecticide; active ingredient: imidacloprid; main applications: vegetables, rice, fruit, potatoes
Advantage™ product line
- (Advantix™ and other brands) - Flea and tick control product for dogs and cats; active ingredient: imidacloprid
Alemtuzumab
- Humanized monoclonal antibody, currently being tested in multiple sclerosis (MS)
Aleve™/Apronax™/Flanax™
- Analgesic; active ingredient: naproxen
Alion™
- Herbicide; active ingredient: indaziflam; main applications: plantation crops, sugarcane
Alka-Seltzer™
- Drug product that binds excess gastric acid and reduces pain and fever
AlpharadinTM
- Novel alpha-emitting radiopharmaceutical currently undergoing clinical development for the treatment of bone metastases; active ingredient: radium-223 chloride
Angeliq™
- Drug product for the treatment of menopause symptoms; active ingredients: drospirenone and estradiol
Antacids
- Drug products to treat heartburn and acid-related stomach complaints
Antra™
- Drug product that binds excess gastric acid; active ingredient: omeprazol
Arize™
- Hybrid rice seed
Aspirin™
- World-famous analgesic; active ingredient: acetylsalicylic acid
Aspirin™ Cardio
- Drug product for protection against heart attack; active ingredient: acetylsalicylic acid
Atlantis™
- Herbicide; active ingredients: mesosulfuron-methyl, iodosulfuron-methyl-sodium, mefenpyr-diethyl; main applications: wheat, triticale, rye
Avalox™/Avelox™
- Drug product for the treatment of respiratory tract infections; active ingredient: moxifloxacin
Aviator™ Xpro™
- Fungicide; active ingredients: bixafen, prothioconazole; main application: cereals
Balance™
- Herbicide; active ingredient: isoxaflutole; main applications: corn, sugarcane
Basta™
- Herbicide; active ingredient: glufosinate-ammonium; main applications: plantation crops, potatoes, vegetables
Bayblend™
- Brand name for polymer blends based on polycarbonate and acrylonitrile-butadiene-styrene
Baycox™
- Drug product to control coccidiosis, a parasitic infectious disease in young livestock; active ingredient: toltrazuril
Baycusan™ C
- Brand name for polyurethane dispersions used in cosmetic formulations
Bayfol ReflexTM
- Technology of Bayer subsidiary Artificial Muscle, Inc. for touchscreens with tactile feedback
Baymedix™
- Brand name for innovative biomaterials used in medical technology
Baytril™
- Drug for the treatment of severe veterinary infectious diseases; active ingredient: enrofloxacin
Belt™
- Insecticide; active ingredient: flubendiamide; main applications: vegetables, soybeans, cotton, rice
Bepanthen™
- Range of skin care and wound-healing products; active ingredient: dexpanthenol
Bepanthol™
- Range of care products to treat dry, irritated skin; active ingredient: panthenol
Berocca™
- Dietary supplement containing B-group vitamins, vitamin C, calcium, magnesium and zinc
Betaferon™/Betaseron™
- Drug product for the treatment of multiple sclerosis; active ingredient: interferon beta-1b
Beyaz™
- Oral contraceptive including folate; active ingredients: ethinyl estradiol, drospirenone, levomefolate calcium
Breeze™ 2
- Blood glucose meter for people with diabetes for simple, safe and rapid use at home or while traveling
Canesten™
- Antifungal medication to treat skin infections; active ingredient: clotrimazole or bifonazole
Capital invested (CI)
- Capital invested comprises the assets on which the company must obtain a return by generating an appropriate cash inflow; in some cases the cost of ultimately reproducing the assets must be earned in addition.
Cash flow return on investment (CFROI)
- The cash flow return on investment is the ratio of the gross cash flow to the average capital invested for the year and is thus a measure of the return on capital employed.
Cash value added (CVA)
- This is the difference between the gross cash flow and gross cash flow hurdle. It is therefore the portion of the gross cash flow that exceeds the return and reproduction requirements. If CVA is positive, the investors’ return and reproduction requirements have been satisfied.
Cipro™/Ciprobay™/Ciproxin™/Baycip™
- Drug product for the treatment of infectious diseases; active ingredient: ciprofloxacin
Confidor™
- Insecticide; active ingredient: imidacloprid; main applications: vegetables, rice, fruit, potatoes
Connect™
- Insecticide; active ingredients: imidacloprid, beta-cyfluthrin; main applications: soybeans, corn, cotton
Contour™ USB
- Blood glucose meter for people with diabetes, featuring USB capability and integrated diabetes management software
Core earnings per share (core EPS)
- Core earnings per share comprises adjusted core net income divided by the weighted average number of issued ordinary shares (taking into account the potential shares resulting from the conversion of the mandatory convertible bond). The adjusted core net income is computed from EBIT plus amortization and impairment losses on intangible assets and impairment losses on property, plant and equipment, plus/minus special items, minus non-operating result, plus/minus income taxes, plus/minus tax adjustments, minus income after taxes attributable to non-controlling interests, plus financing expenses for the mandatory convertible bond net of tax effects. Core earnings per share are not defined in the International Financial Reporting Standards. The company considers that this indicator gives readers a clearer picture of the results of operations and ensures greater comparability of data over time.
Corporate compliance
- Corporate compliance comprises the observance of statutory and company regulations on lawful and responsible conduct by the company, its employees, and its management and supervisory bodies.
Corporate governance
- Corporate governance comprises the long-term management and oversight of the company in accordance with the principles of responsibility and transparency. The German Corporate Governance Code sets out basic principles for the management and oversight of listed companies.
Credit default swaps (CDS)
- Credit default swaps are tradable insurance contracts used to hedge against the default of a borrower.
Decis™
- Insecticide; active ingredient: deltamethrin; main applications: vegetables, fruit, cereals, canola
Delta cash value added (Delta CVA)
- Delta cash value added is an indicator of the difference between the cash value added between two periods. A positive delta CVA shows that a unit has created value or destroyed less value compared with the reference period.
Desmodur™
- Brand name for various isocyanates
Desmopan™
- Brand name for thermoplastic polyurethanes
Desmophen™
- Brand name for various polyesters and polyols used in the manufacture of polyurethanes
Desonate™
- Topical glucocorticoid for the treatment of atopic dermatitis; active ingredient: desonide
Drontal™ product line
- Dewormers for dogs and cats; active ingredients: combinations of praziquantel, pyrantel and febantel
Earnings before interest and taxes (EBIT)
- EBIT comprises the operating profit of a company before deduction of the non-operating result and taxes. In Bayer’s Annual Report, EBIT is the operating result shown in the income statement.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
- EBIT plus amortization and impairment losses on intangible assets and depreciation and impairment losses on property, plant and equipment, minus impairment loss reversals. EBITDA, underlying EBITDA and the underlying EBITDA margin are not defined in the International Financial Reporting Standards. The company considers EBITDA before special items to be a more suitable indicator of operating performance since it is not affected by depreciation, amortization, impairments or special items. By reporting this indicator, the company aims to give readers a clearer picture of the results of operations and ensure greater comparability of data over time.
Earnings per share (EPS)
- EPS is calculated by dividing Group net income by the weighted average number of shares as defined in IAS 33.
EBITDA margin before special items
- The EBITDA margin before special items is calculated by dividing EBITDA before special items by sales.
EcoCommercial Building
- Innovative, globally aligned business model for a range of integrated energy and material solutions culminating in the zero emissions building. The model has been included in the Sustainable Buildings & Climate Initiative (SBCI) of UNEP.
Emerion™
- Fungicide; active ingredient: penflufen; main applications: seed treatment in soybeans, corn, cereals, canola, cotton, rice
Emesto™
- Fungicide; active ingredient: penflufen; main application: seed treatment in potatoes
EMTN and multi-currency EMTN program
- The Euro Medium Term Notes (EMTN) program is a documentation platform that enables Bayer to raise capital by quickly issuing debt on the European capital market. Securities issued under this program may be listed in Luxembourg or unlisted. Their maturities, currencies and conditions may vary considerably.
Extavia™
- Drug product for the treatment of multiple sclerosis; active ingredient: interferon beta-1b
Fandango™
- Fungicide; active ingredients: fluoxastrobin and prothioconazole; main application: cereals
Ficam™
- Insecticide; active ingredient: bendiocarb; main application: professional non-agricultural pest control
Finale™
- Herbicide; active ingredient: glufosinate-ammonium; main applications: plantation crops, potatoes, vegetables
Flint™
- Fungicide; active ingredient: trifloxystrobin; main applications: fruit, grapes, vegetables
Florbetaben
- Novel F18-labeled tracer substance currently undergoing clinical development for the detection of beta-amyloid plaques in the brain using positron emission tomography (PET)
Folicur™
- Fungicide; active ingredient: tebuconazole; main applications: cereals, soybeans, canola, peanuts, vegetables, fruit, grapes
Gadovist™
- Contrast agent for magnetic resonance imaging of the central nervous system that enables the number and location of lesions to be displayed in patients with brain metastases or multiple sclerosis; active ingredient: gadobutrol
Gaucho™
- Insecticide; active ingredient: imidacloprid; main applications: seed treatment for sugar beet, corn, cereals, cotton, canola
Global commercial paper program
- Commercial paper is a short-term unsecured debt instrument normally issued at a discount and redeemed at nominal value. It is a flexible way of obtaining short-term funding on the capital markets. Bayer’s commercial paper program allows the company to issue commercial paper on both the U.S. and European markets.
Glucobay™
- Drug product for the treatment of diabetes; active ingredient: acarbose
Glucofacts™ Deluxe
- Diabetes management software
Gross cash flow
- The gross cash flow comprises income after taxes, plus income taxes, plus non-operating result, minus income taxes paid or accrued, plus depreciation, amortization and impairment losses, minus impairment loss reversals, plus / minus changes in pension provisions, minus gains / plus losses on retirements of noncurrent assets, minus gains from the remeasurement of already held assets in step acquisitions. The change in pension provisions includes the elimination of non-cash components of the operating result (EBIT). It also contains benefit payments during the year.
Gross cash flow hurdle
- The GCF hurdle is the gross cash flow that must be generated in light of the respective asset situation in order to satisfy investors’ return and reproduction requirements.
HDI
- Hexamethylene diisocyanate, a raw material for polyurethane coatings
Hybrid bond
- A hybrid bond is an equity mezzanine corporate bond, usually with either no or very long maturity. Due to its subordination, issuer bankruptcy can lead to a complete financial loss.
Ignite™
- Herbicide; active ingredient: glufosinate ammonium; main applications: genetically modified crops (cotton, canola, soybeans, corn)
Input™
- Fungicide; active ingredients: prothioconazole, spiroxamine; main application: cereals
Intense™
- Tomato seed
InVigor™
- Summer canola seed
Iopamiron™
- Non-ionic intravascular contrast agent for all common x-ray analyses
Key performance indicators
- (KPI) Indicators used to evaluate the attainment of targets by the company
Kinzal™
- Drug product for the treatment of hypertension; active ingredient: telmisartan
Kogenate™
- Drug product for the treatment of hemophilia; active ingredient: recombinant Factor VIII
K-Othrine™
- Insecticide; active ingredient: deltamethrin; main applications: insects that transmit malaria, sleeping sickness and Chagas’ disease
Levitra™
- Drug product for the treatment of erectile dysfunction; active ingredient: vardenafil
LibertyLink™
- Plant trait: herbicide tolerance; main applications: cotton, canola, soybeans, corn
Liberty™
- Herbicide; active ingredient: glufosinate-ammonium; main applications: genetically modified crops (cotton, canola, soybeans, corn)
Life sciences
- Field of activities comprising particularly health care and nutrition; at Bayer this refers to the activities of the HealthCare and CropScience subgroups.
Lifenet™
- Mosquito nets to prevent malaria based on a textile fiber incorporating the active ingredient deltamethrin
Luna™
- Fungicide; active ingredient: fluopyram; main applications: wine and table grapes, fruit, vegetables
Magnevist™
- Contrast agent for diagnosis in the central nervous system and body; active ingredient: dimeglumine gadopentetate
Makroblend™
- Brand name for polymer blends made from polycarbonate and polybutylene terephthalate or polyethylene terephthalate
Makrofol™
- Brand name for films made from Makrolon™
Makrolon™
- Brand name for polycarbonate
MDI
- Diphenylmethane diisocyanate, an important raw material for rigid polyurethane foam used in thermal insulation
Merit™
- Insecticide; active ingredient: imidacloprid; main application: insecticide for non-agricultural grass lawns
Mirena™
- Intrauterine contraceptive; active ingredient: levonorgestrel
NataziaTM
- Oral contraceptive whose estrogen component is based on estradiol; active ingredients: estradiol valerate, dienogest
Nativo™
- Fungicide; active ingredients: trifloxystrobin, tebuconazole; main applications: cereals, soybeans, corn, rice
NatriaTM
- Product line from Bayer’s range of garden products for consumers; based on natural or nature-derived active ingredients
NeoBenz™ Micro
- Drug product for the treatment of acne: active ingredient: benzoyl peroxide
Net cash flow
- The net cash flow is the cash flow from operating activities as defined in IAS 7.
Nexavar™
- Cancer drug for the treatment of patients with hepatocellular carcinoma or advanced renal cell carcinoma; active ingredient: sorafenib
One A Day™
- Multivitamin product
Over the counter (OTC)
- The trading of securities outside of an organized exchange. OTC transactions are still subject to the statutory provisions on securities trading. In the HealthCare business, OTC refers to non-prescription medication.
Poncho™
- Insecticide; active ingredient: clothianidin; main applications: seed treatment for corn, canola, sugar beet, cereals
PPA
- Purchase price allocation
Price/cash flow ratio
- The price/cash flow ratio is the ratio of the share price to gross cash flow per share. It shows how long it would take for the company’s cash flow to cover the share price.
Price/EPS
- This is the ratio of the current share price to earnings per share. A high price/EPS ratio indicates that the market assigns a high value to the stock in the expectation of future earnings growth.
Pritor™
- Drug product for the treatment of hypertension; active ingredient: telmisartan
Proline™
- Fungicide; active ingredient: prothioconazole; main applications: cereals, canola
Prosaro™
- Fungicide; active ingredients: prothioconazole, tebuconazole; main applications: cereals, canola
Puma™
- Herbicide; active ingredient: fenoxaprop-p-ethyl; main applications: cereals, rice, soybeans
Qlaira™
- Oral contraceptive whose estrogen component is based on estradiol; active ingredients: estradiol valerate, dienogest
Raxil™
- Fungicide; active ingredient: tebuconazole; main applications: seed treatment for wheat and barley
Redoxon™
- Vitamin product containing vitamin C and zinc
Regorafenib
- Novel oral multi-kinase inhibitor for the treatment of gastrointestinal stromal tumors (GIST)
Rely™
- Herbicide; active ingredient: glufosinate-ammonium; main applications: plantation crops, potatoes
Rennie™
- Medicine to treat heartburn and acid-related stomach disorders; active ingredients: calcium carbonate and magnesium carbonate
Riociguat
- Active ingredient from a new class of vasodilative substances; stimulates the enzyme soluble guanylate cyclase and is currently being tested in a Phase III program to determine its efficacy and safety in the treatment of chronic thromboembolic pulmonary hypertension and pulmonary arterial hypertension
Routine™
- Fungicide; active ingredient: isotianil; main application: rice
SafyralTM
- Oral contraceptive including folate; active ingredients: ethinyl estradiol, drospirenone, levomefolate calcium
Soberan™
- Herbicide; active ingredients: tembotrione and isoxadifen; main application: corn
Specticle™
- Herbicide; active ingredient: indaziflam; main application: lawncare for professional users
Sphere™/Sphere™ Max
- Fungicide; active ingredients: trifloxystrobin and cyproconazole; main applications: soybeans, cereals, sugar beet, coffee
Squeeze-out
- Transfer of the shares held by minority stockholders in a stock corporation to the majority stockholder in return for a compensation payment. In Germany, a majority stockholder with an interest of 95 percent can request a squeeze-out.
STAXYNsupTM/sup
- New formulation of the drug Levitra™ for the treatment of erectile dysfunction; active ingredient: vardenafil
Stratego™
- Fungicide; active ingredients: trifloxystrobin, propiconazole; main applications: corn, soybeans, cereals, rice
Supradyn™
- Vitamin and mineral supplement with trace element
Syndicated credit facility
- Credit line agreed with a group of banks. Generally used for extensive financing requirements, such as when making an acquisition, to increase the available liquidity reserves or as security for the issuance of debt instruments. The credit facility can be utilized and repaid flexibly, either in full or in portions, during its term.
TDI
- Toluene diisocyanate, an important raw material for polyurethane flexible foam used in upholstery, mattresses and car seats
Temprid™
- Insecticide; active ingredients: imidacloprid, betafluthrin; main application: professional non-agricultural pest control
Ultravist™
- Contrast agent for x-ray examinations including computed tomography; active ingredient: iopromide
Valette™ Plus
- Oral contraceptive including folate (vitamin B); active ingredients: dienogest, ethinyl estradiol, levomefolate calcium
VEGF Trap-Eye
- VEGF (vascular endothelial growth factor) is a natural growth factor that is also involved in the pathological formation of new blood vessels in the eyes, which leads to wet age-related macular degeneration (AMD). VEGF Trap-Eye specifically inhibits this process and other growth factors and is currently undergoing Phase III clinical testing.
VotivosupTM/sup
- Biological agent based on Bacillus firmus to protect against nematodes, main applications: seed treatment in combination with Poncho™ in corn, soybeans and cotton
Vulkollan™
- Brand name for a high-performance polyurethane elastomer
Weighted average cost of capital (WACC)
- The weighted average cost of capital (WACC) represents the return required by investors on the capital invested in the company. It is computed as a weighted average of the cost of equity and debt. The cost of equity correlates with the return expectations of stockholders while the cost of debt comprises the conditions obtained by the company for its long-term financing.
World-scale production facility
- Extremely large production plant whose capacity allows the realization of substantial economies of scale.
Xarelto™
- Direct Factor Xa inhibitor in tablet form. The active ingredient rivaroxaban is used to prevent and treat thrombosis in a wide range of indications and is registered in the European Union and other regions as Xarelto™ for the prophylaxis of venous thromboembolism (VTE) in adults following elective hip and knee replacement surgery.
Xpro™
- Fungicide; active ingredients: bixafen, prothioconazole; main application: cereals
YAZ™/Yasmin™/Yasminelle™
- Oral contraceptives; active ingredients: ethinyl estradiol and drospirenone
Zetia™
- Cholesterol-lowering drug from Merck & Co., co-marketed by Bayer in Japan; active ingredient: ezetimib