Hints and tips:
...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.”...
...Manns said asundexian was the most promising drug in Bayer’s pharma pipeline. “Without it, the pharma unit is left without sustainable growth.”...
...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....
...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...
...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...
...Bayer shares have underperformed ever since and analysts and investors have been pushing to separate the group’s pharma and agrichemical businesses....
...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....
...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....
...“We [often] know there’s a mechanism that causes a disease, but we have no way to attach a drug to that biological mechanism [to treat it],” Bayer’s pharma boss Stefan Oelrich told the Financial Times....
...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...
...Between them, the two drugs generate more than €6bn in annual sales, more than a third of Bayer’s pharma revenue....
...Stefan Oelrich, the head of Bayer’s pharma division, said: “We are highly committed to making our capabilities and networks available to help end this pandemic.”...
...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....
...Bayer’s problem is not just the deterioration in the crop division’s prospects. The pharma arm’s pipeline is also weak. Expect a dividend cut....
...group Schering in 2006....
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