Here's the key sentence: "Bayer wrapped social media into its patent creation processes".
That means that they revised their business process. Previously it looked like:
Start inventing -> Make small discoveries -> Make big discovery -> Apply For Patent
Now it looks like:
Start inventing -> Make small discoveries -> Update intranet -> Make big discovery -> Apply For Patent
The reason this matters is that other scientists in the company can see the small discoveries on the company intranet and realise that it might apply to their area of research. The efficiency of avoiding duplicated work and reinvention of wheels resulted in a 15% improvement in output.
"Social media" doesn't just mean Facebook and Twitter. For companies it more commonly means the corporate intranet, team-specific websites, internal and external blogs, internal forums (fora?): anything that enables knowledge-sharing at low production cost.
Many types of businesses can benefit from such process improvements, not just pharmaceutical or research-based companies. Maybe your company has multiple offices, and one office finds a faster way of working. Your team leader can write a blog post about it and other offices can follow their example.
Obviously not all companies can benefit from this. But if you're in a knowledge-intensive sector, better use of (internal) social media is a no-brainer.