Adalat™ - Drug product for the treatment of hypertension; active ingredient: nifedipine

Adempas™ - Drug product for the treatment of two types of pulmonary hypertension: chronic thromboembolic pulmonary hypertension (CTEPH) and pulmonary arterial hypertension (PAH); active ingredient: riociguat

Advantage™ - Product line (Advantix™ and other brands). Flea and tick control product for dogs and cats; active ingredient: imidacloprid

Aleve™/Apronax™/Flanax™ - Analgesic; active ingredient: naproxen

Alka-Seltzer™ Plus - Drug product that reduces pain and fever

Antacids - Drug products to treat heartburn and acid-related stomach complaints

APEC™ - Brand name for particularly heat-resistant polycarbonates for application at temperatures of up to 200° Celsius

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

Avalox™ / Avelox™ - Drug product for the treatment of respiratory tract infections; active ingredient: moxifloxacin


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

Bayer Garden™/Bayer Advanced™ - Umbrella brands for consumer home and garden products

Baytril™ - Drug for the treatment of severe veterinary infections; active ingredient: enrofloxacin

Bepanthen™ - Range of skincare and wound-healing products; active ingredient: dexpanthenol

Bepanthol™ - Range of care products for dry, irritated skin; value-adding ingredient: panthenol

Berocca™ - Dietary supplement containing B-group vitamins, vitamin C and minerals

Betaferon™/Betaseron™ - Drug product for the treatment of multiple sclerosis (MS); active ingredient: interferon beta-1b

Breeze™ - 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 CFROI is the ratio between the gross cash flow in the period and the cost of reproducing depletable assets, divided by the capital invested. The CFROI is thus a measure of the return on capital employed in the period.

Cash value added (CVA) - This is the difference between the gross cash flow and gross cash flow hurdle. It is therefore the amount by which the gross cash flow exceeds the return and reproduction requirements. If CVA is positive, the investors’ return and reproduction requirements have been satisfied and value has been created for the company.

CDP - is an international, not-for-profit organization that works on behalf of analysts and investors to promote the transparent reporting of greenhouse gas emissions and water use (Water Disclosure Report) by companies. CDP publishes two climate rankings each year: the Climate Disclosure Leadership Index (CDLI) rates the extent and quality of the disclosure of climate-relevant data, while the best-rated companies are additionally listed in the Climate Performance Leadership Index (CPLI).

Cipro™/Ciprobay™/Ciproxin™/Baycip™ - Drug product for the treatment of infectious diseases; active ingredient: ciprofloxacin

Contour™ - Line of blood glucose meters for people with diabetes for simple, safe and rapid use at home or while traveling; includes Contour™, Contour™ XT, Contour™ Plus and Contour™ Next USB

Core earnings per share (core EPS) - Core earnings per share comprise core net income divided by the weighted average number of issued ordinary shares. Core net income is computed from EBIT plus amortization and impairment losses on intangible assets and impairment losses on property, plant and equipment, plus special items (other than amortization and impairments), minus financial result, minus income taxes, minus tax effects related to amortization, impairments and special items, minus income after taxes attributable to non-controlling interest. 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 - comprises the observance of statutory and company regulations on lawful and responsible conduct.

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.

Council™ - Herbicide; active ingredient: triafamone; mainly used in rice

Credit default swaps (CDS) - Credit default swaps are tradable insurance contracts used to hedge against the default of a borrower.


Diversity - designates the variation within the workforce in terms of gender, origin, nationality, age, religion and physical incapacitation.

Drontal™ - Product line. Dewormers for dogs and cats; active ingredients: combinations of praziquantel, pyrantel and febantel


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, EBITDA before special items and the EBITDA margin before special items are not defined in the International Financial Reporting Standards. EBITDA before special items is a meaningful 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 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.

EBIT - EBIT comprises earnings before financial result and taxes.

Emissions factors - Country- or production plant-specific factors in kg CO2e/MWh for converting produced/consumed energy (electricity and heat) values into greenhouse gas volumes. These emissions factors can be based on either statistical data (such as IEA, WIR, Defra/DECC, etc.) or on operator and supplier data, should they be available.

EMTN program - The multi-currency European Medium Term Notes (EMTN) program is a documentation platform that enables Bayer to raise capital by quickly issuing debt on the global capital market. Maturities, currencies and conditions can be very flexibly designed.

Essure™ - Non-surgical permanent birth control method

Eylea™/Eylia™ - is a recombinant fusion protein consisting of parts of human VEGF receptors 1 and 2 extracellular domains fused to the Fc portion of human IgG1 and formulated as an iso-osmotic solution for intravitreal administration. It acts as a soluble decoy receptor that binds to VEGF-A and placental growth factor (PLGF) with a higher affinity than their natural receptors and can therefore inhibit the binding and activation of these cognate VEGF receptors.


FiberMax™ - Cotton seed


Gadavist™/Gadovist™ - Contrast agent for magnetic resonance imaging of the central nervous system, liver and kidneys; active ingredient: gadobutrol

GHG Protocol - The Greenhouse Gas Protocol Corporate Standard is an internationally recognized standard for the recording and reporting of greenhouse gas emissions. It covers direct (Scope 1) and indirect (Scope 2) greenhouse gas emissions relating to a company’s value-added chains, as well as emissions resulting from third-party and acquired upstream services (Scope 3).

Global commercial paper program - Commercial paper (CP) issued under Bayer’s program 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 market.

Glucobay™ - Drug product for the treatment of diabetes; active ingredient: acarbose

GlyTol™ - Herbicide tolerance trait; mainly used in cotton

GRI (Global Reporting Initiative) - is a charitable organization that works on behalf of the dissemination and optimization of sustainability reporting. The GRI guidelines are considered the most frequently used and internationally most recognized standard for sustainability reporting. These guidelines are evolved in a multi-stakeholder process. GRI was established in 1997 by the Ceres Coalition of environmentally responsible economies and the United Nations Environment Programme (UNEP).

Gross cash flow (GCF) - The gross cash flow comprises income after taxes, plus income taxes, plus financial 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 EBIT. It also contains benefit payments during the year.

Gross cash flow hurdle - The GCF hurdle is the gross cash flow that needs to be generated to satisfy investors’ return and reproduction requirements.


Harmonix™ Insect Control - Biological household insecticide based on pyrethrum, derived from the chrysanthemum flower

HDI - Hexamethylene diisocyanate, a raw material for polyurethane coatings

Hybrid bond - A hybrid bond is a corporate bond with equity-equivalent properties, usually with either no maturity date or a very long maturity. Due to its subordination, issuer bankruptcy carries a lower likelihood of repayment than a normal bond.


Iberogast™ - Plant-based combination product with a broad spectrum of action in various parts of the digestive system

Interface™ - Fungicide with Stressgard™ Formulation Technology for professional use on turfgrasses

InVigor™ - Summer canola seed


Kogenate™  - Drug product for the treatment of hemophilia; active ingredient: recombinant Factor VIII


Laif™ - Plant-based medicine to treat mild depression; active ingredient: St. John’s wort

Levitra™ - Drug product for the treatment of erectile dysfunction; active ingredient: vardenafil

Liberty™ - Herbicide; active ingredient: glufosinate-ammonium; mainly used in genetically modified crops (cotton, canola, soybeans and corn)

Life Sciences - Field of activities comprising particularly agriculture and health care. At Bayer this refers to the activities of the CropScience and HealthCare subgroups.


Magnevist™ - Contrast agent for MRI diagnosis of the central nervous system and body; active ingredient: gadopentetate dimeglumine

Makrolon™ - Brand name for polycarbonate

Marengo™ - Pre-emergent herbicide, active ingredient: indaziflam; mainly used for ornamentals

Maxforce™ - Range of bait products against ants and roaches

MDI - Diphenylmethane diisocyanate, an important raw material for rigid polyurethane foam used in the thermal insulation of buildings and refrigerated appliances

Mirena™ - Intrauterine contraceptive; active ingredient: levonorgestrel


Natria™ - Product line in the Bayer Garden™ range of consumer products; based on natural or nature-derived active ingredients

Neonicotinoids - Chemical class of systemic insecticides

Net cash flow - Net cash flow is the cash flow from operating activities as defined in IAS 7.

Nexavar™ - Cancer drug to treat patients with hepatocellular carcinoma or advanced renal cell carcinoma; active ingredient: sorafenib


One A Day™ - Multivitamin product

Over the counter (OTC) - In the health care field, OTC medicines are those obtainable without a prescription. In finance, OTC represents trade between financial market participants outside of an organized exchange. OTC transactions are nevertheless subject to securities trading laws.


Phase I-III studies - Phases in the development of a drug product. The active ingredient candidate is tested in healthy subjects (with the exception of oncology) in Phase I, and in sick patients in Phases II and III. The studies are subject to strict legal requirements and documentation procedures.

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 ratio (price/earnings ratio) - 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.


Redoxon™ - Vitamin product containing vitamin C and zinc

Responsible Care™ initiative - Voluntary global initiative by the chemical industry aimed at achieving continuous improvement in environmental protection, occupational health and safety, product stewardship, and the safety of sites and their immediate surroundings

Riociguat - Active ingredient from a new class of vasodilative substances; stimulates soluble guanylate cyclase (sGC), an enzyme. In January, the European Committee for Medicinal Products for Human Use (CHMP) recommended that riociguat be approved to treat chronic thromboembolic pulmonary hypertension (CTEPH) and pulmonary arterial hypertension (PAH). Riociguat was approved in the United States and Japan under the trade name Adempas™.

Roundup Ready™ - Herbicide tolerance trait for crops, developed by Monsanto; mainly used in soybeans, corn, oilseed rape/canola, cotton and sugar beet


Seresto™ - Flea and tick collar for dogs and cats; active ingredients: imidacloprid and flumethrin

Sivanto™ - Insecticide; active ingredient: flupyradifurone; mainly used in fruit and vegetables

Specticle™ - Herbicide; active ingredient: indaziflam; mainly for lawncare by professional users

Stivarga™ - Drug product for the treatment of metastatic colorectal cancer and, in the United States, gastrointestinal stromal tumors. It is an oral multikinase inhibitor that blocks certain kinases responsible for tumor growth; active ingredient: regorafenib

Supradyn™ - Dietary supplement (B-group vitamins with niacin, vitamin C and iron)

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 available liquidity 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.


Talcid™ - Antacid to treat heartburn and stomach complaints; active ingredient: hydrotalcite

TDI - Toluene diisocyanate, an important raw material for flexible polyurethane foam used in upholstery, mattresses and car seats

TwinLink™ - Dual insecticide resistance and herbicide tolerance trait; mainly used in cotton


Ultravist™ - Contrast agent for X-ray examinations including computed tomography; active ingredient: iopromide

UNGC (United Nations Global Compact) - The UN Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment and anti-corruption. By doing so, business – as a primary driver of globalization – can help ensure that markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere. By committing to the UNGC, companies agree to document each year their efforts to uphold the ten principles.


Velum™ / Verango™ - Nematicide; active ingredient: fluopyram; mainly used in fruit and vegetables


Weighted average cost of capital (WACC) - The weighted average cost of capital (WACC) represents the return expected 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 is derived from capital market information and represents the return expected by stockholders, while the cost of debt represents the conditions at which the company can borrow money over the long term.

White & Black™ - Cough and cold medicine

WHO Class I - The World Health Organization (WHO) divides crop protection products into various hazard classes. Class I products are deemed to be extremely hazardous.

World-scale production facility - Very large production facility that allows substantial economies of scale


Xarelto™ - Direct Factor Xa inhibitor in tablet form. Xarelto™ is approved for the prevention and treatment of thrombosis in a wide range of venous and arterial indications, including stroke prevention in patients with atrial fibrillation; active ingredient; rivaroxaban

Xofigo™ - Drug product for the treatment of patients with castrationresistant prostate cancer with symptomatic bone metastases and no known visceral metastases; active ingredient: radium-223 dichloride


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

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Last updated: February 28, 2014  Copyright © Bayer AG