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...Known as a “dynamic shared ownership” and based on an idea by consultant Gary Hamel, it consists of cutting out middle managers to empower the scientists and sales experts, and is expected to save €2bn per...
...Bayer is bracing itself for another drop of up to 9 per cent in 2024 as it faced fresh competition for some of its best-selling drugs and lower prices for agriculture products The group is still reeling...
...Activist investor Jeff Ubben is set to join Bayer’s supervisory board as the struggling German aspirin-to-glyphosate conglomerate prepares to update investors about a potential break-up early next week....
...Bayer has announced plans to slash its dividend by 95 per cent as the German conglomerate steps up its effort to bring down its debt eight years after its ill-fated acquisition of Monsanto....
...Manns said asundexian was the most promising drug in Bayer’s pharma pipeline. “Without it, the pharma unit is left without sustainable growth.”...
...“Bayer is running out of options strategically as well as financially.”...
...He was formerly CEO of Coupa Software. KKR has added Ruchir Swarup as a partner and chief information officer. He was previously at BlackRock....
...Bayer last week abandoned a trial of blood-thinner asundexian after it did not work as hoped to treat heart disease....
...Crop science is the largest part of the business and would work as a standalone. There is also a case for splitting off pharma, which would be worth about €33bn....
...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....
...Bayer has employed some unusual tactics as it continues to fight the cases....
...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...
...He praised Bayer as an “amazing [and] iconic company”, telling journalists that he remembered from his childhood the Aspirin painkiller developed by the company....
...He added that Bayer was “deprioritising Europe to some degree” and focusing on the US and China, where its pharma division has already established a significant market presence....
...Net debt as a multiple of ebitda should fall to two times by 2024 from a multiple of almost three in 2021. Even better, Bayer’s pharma unit has more than doubled its peak sales targets to over €12bn....
...He defended his record at Bayer, saying he was “very proud” of his seven years in the top job as well as his 35 years in various other roles at the pharma and agrochemicals conglomerate....
...Accordingly, big pharma groups like Pfizer, Bayer and Regeneron have taken note, forming partnerships with the pioneers....
...The company’s research programmes are seeking new treatments against cancer as well as inflammatory diseases such as irritable bowel disease, said Bayer....
...Bayer’s head of pharma Stefan Oelrich told the Financial Times earlier this year that the company would soon launch as many as three new drugs with annual sales potential of €1bn after investing heavily...
...performance as well as support in selected countries”....
...It is unlikely AskBio’s knowhow will benefit Bayer’s crop science business. Nor can it be expected to revive the pharma division sufficiently to pave the way for a spin-off....
...Bayer is spending up to $4bn for US-based gene therapy pioneer Asklepios BioPharmaceutical as the German group pushes into a fast-growing medical technique in its biggest pharma deal since 2006....
...“The reason Bayer has been so strong in the past is that it has spun off businesses and acquired them,” he added. “It is not only a pharma company, it is an active portfolio manager as well.”...
...pesticide for as much as $8bn....
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