Credit Suisse First Boston is in a strong position to advise Bayer on future options for its troubled pharmaceuticals division, but the German industrial conglomerate said that the door is open to other advisers.

A Bayer spokesman said that the board would be spending the next two to four weeks rethinking the strategy for its pharmaceuticals division, one of the company's five core areas. He could not comment as to whether any external advisers had yet been appointed, however he said that the company was not restricted to one financial adviser.