It is planning to consolidate the agency roster of its Bayer HealthCare business in a bid to cut costs and improve efficiencies.
The company, which owns brands such as Berocca, Rennie and Canesten, is the latest in a slew of multinationals which have reviewed their marketing budgets and reduced the number of marketing communications suppliers they work with in response to the recession.
The ad review will affect incumbent agencies including JWT, BBDO and Initiative. Preliminary discussions are believed to be underway.
Bayer AG, known as Bayer in the UK and Ireland, has almost 109,000 employees worldwide and a yearly turnover of more than 33bn euros (£28.4bn) across its three main business areas of healthcare, material science and crop science.
In Europe, where 44% of the company’s turnover resides, the UK and Ireland region is placed fifth with close to one billion euros (£860m) in sales, 1,380 employees.
A Bayer spokesperson says: “The project will include a review of the company’s processes, partners and overall approach in the areas of creative services and media buying to determine whether there are ways to improve the effectiveness and efficiency of its product and company communications.”