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...In its pharmaceutical division, Bayer had to abandon a late-stage trial for its most promising drug last year, meaning it has only a few potential blockbusters left in its pipeline: treatments for prostate...
...Meanwhile, investors remain concerned Bayer may still have to increase its litigation provisions beyond the $6bn remaining. It needs further deals to replenish its pharmaceuticals pipeline....
...The former Roche pharmaceuticals boss took on one of the most unenviable jobs in corporate Europe last June....
...“The public debate about Bayer’s future was too narrowly focused on a break-up,” he said, adding that Anderson was right to address Bayer’s underlying problems....
...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...
...Alongside Ubben, Bayer nominated Nancy Simonian, the former CEO of US biotech company Syros Pharmaceuticals, and Lori Schechter, the former general counsel of US healthcare group McKesson, to join its supervisory...
...Bayer paid a dividend of €2.40 for 2022. Analysts had expected Bayer to pay a dividend of €1.92 per share for 2023, a far more modest cut....
...But for the German group’s recently installed chief executive Bill Anderson, who has more than two decades of experience in the pharmaceuticals industry, such disappointments are just part of the game....
...that Roundup causes cancer, which Bayer denies....
...Bayer will give a detailed outlook for next year in March....
...Bayer last week abandoned a trial of blood-thinner asundexian after it did not work as hoped to treat heart disease....
...These patent expiries, declining farm incomes and a battery of legal claims — estimated at €9bn by Berenberg’s Sebastian Bray — weigh on Bayer shares....
...Corporate updates: German pharmaceutical company Bayer reports full-year results, alongside a strategy update from chief executive Bill Anderson, as the company faces numerous lawsuits in the US....
...Big share price moves in Europe today include Swiss cement giant Holcim, German pharmaceuticals group Bayer, and Dutch conglomerate Philips....
...[MUSIC PLAYING] German pharmaceutical company Bayer has been struggling with a ton of lawsuits related to its weedkiller called Roundup....
...Bayer has argued that cash flow from crop science and its consumer health unit help fund its growing pharmaceuticals pipeline....
...German pharmaceuticals 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....
...Metagenomi, a pre-clinical group backed by Moderna and Bayer, priced its $94mn IPO last week at the bottom of its target range, and fell 31 per cent on its first day of trading on Friday....
...Bayer: Shares in the German pharmaceutical company dropped as much as 18 per cent in early trading after it abandoned a late-stage trial of a blood thinning treatment due to a lack of efficacy....
...Two weeks ago, shares in Merck’s rival Bayer dropped to their lowest level in a decade after the company abandoned a late-stage trial of a blood-thinning drug....
...Anderson joined Bayer in April and formally became CEO this month....
...Pharmaceutical company Bristol Myers Squibb fell 3.5 per cent after the federal US drug regulator delayed its decision to expand the use of a cancer therapy and as rival Bayer stopped a late-stage study...
...Ireland’s corporation tax receipts bounced back strongly in November after three months of falls, alleviating fears that a bonanza from international technology and pharmaceutical companies in the country...
...Also in the frame are the technology and pharmaceutical sectors. Their wealth of intellectual property makes them particularly adept at shifting profits....
...Germany’s Bayer hopes that elinzanetant, a non-hormonal treatment in late stage clinical development, could generate peak sales of €1bn-plus a year if approved....
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