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...Now based in Leverkusen — whose Bayer-owned football club could win the Bundesliga for the first time in its 120-year history — the executive is drawing on close to 30 years of experience in pharma and biotech...
...He added that the underlying operative problems in the pharma and crop science businesses needed to be addressed without undue job cuts....
...On Thursday, Bayer also announced the early departure of the head of its consumer health unit, Heiko Schipper, who will be replaced by Julio Triana, a senior manager in the group’s pharma division....
...Chief executive Bill Anderson, who joined last year after heading the pharma unit of Swiss rival Roche, said the decision “was not taken lightly” and had “considered investor input.”...
...Much of Bayer’s debt is long-term but about €4.3bn of bonds mature this year. For now, Anderson is trying to fix Bayer organically....
...But even optimists would struggle with no direction at all on Bayer’s future structure....
...The Texas native, who joined Bayer last summer after his predecessor Werner Baumann was pushed out, argued that Bayer first needed to focus on fixing its financial and operating problems, warning that the...
...Manns said asundexian was the most promising drug in Bayer’s pharma pipeline. “Without it, the pharma unit is left without sustainable growth.”...
...US trial attorneys are eager to keep fighting Bayer in court....
...The new chief executive, who has been in the job since the summer and previously ran Roche’s pharma division, disagreed that Bayer’s pharma unit was too small to keep up with larger rivals....
...Last month he blasted Bayer’s performance as “unacceptable” and stressed that “all options” were on the table, including splitting the pharma unit from the crop science division....
...Yet the German conglomerate is making rapid moves in its pharma division....
...Bayer closed down nearly 8 per cent, putting its market cap below €26bn....
...Bayer is exploring a carve-out of its crop science division or its consumer health unit as new chief executive Bill Anderson is looking into radical ways to improve the agriculture and pharma conglomerate...
...Mentioned in this podcast: Buffett sounds wildfire alarm as utilities industry enters new era Bayer slashes dividend by 95% as it steps up effort to cut debt Bayer’s struggling Roundup court strategy...
...Bayer will give a detailed outlook for next year in March....
...But Bayer’s persistently low multiple against agrochemical and pharma peers underscores the need for change. Anderson wishes to boost pharma, for example, by removing centralised research budgeting....
...Some investors fear that the uncertainty over Roundup’s financial burden could limit Anderson’s room for manoeuvre with regard to a potential separation of Bayer’s crop science business and its pharma unit...
...The crunchy acronym was coined by Goldman Sachs for pharma companies GSK and Roche, Dutch chip company ASML, Switzerland’s Nestlé and Novartis, Danish drugmaker Novo Nordisk, France’s L’Oréal and LVMH, the...
...Bayer: Shares in the German pharma company continue their slide to their lowest level in more than a decade after a key late-stage trial for a potential blockbuster drug failed to show efficacy on Monday...
...German pharma and agrochemicals group Bayer said it will take a €2.5bn writedown on glyphosate as prices — as well as demand — for the controversial weedkiller are falling....
The Swiss pharma group needs to settle investor jitters with its latest acquisition
...Need to know: business Bayer shares plummeted as much as 18 per cent after the German pharma company reported failure of a late-stage trial for its asundexian blood-thinner....
...Two weeks in as CEO, the former head of Roche’s pharma division and ex-chief of its US biotech group Genentech, declined to elaborate on potential structural changes for the multi-headed group....
...As people close to the company insist, a key argument made against selling Bayer’s agricultural business to Monsanto was that the remaining pharma division would then be so small that it could easily become...
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