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...While Anderson has warned the revamp will lead to “significant” job cuts, Bayer employees have been supportive....
...Barclays analyst Emily Field believes Anderson must “at a minimum” follow the example of Sanofi, which in October named an earliest date by which it intended to carve out its own consumer healthcare business...
...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....
...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...
...“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...
...US trial attorneys are eager to keep fighting Bayer in court....
...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....
...Bayer closed down nearly 8 per cent, putting its market cap below €26bn....
...The abandoned asundexian trial “is a major setback for Bayer”, said Markus Manns, a portfolio manager and healthcare expert at Union Investment, Germany’s third-largest asset manager....
...“Bayer is running out of options strategically as well as financially.”...
...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....
...These patent expiries, declining farm incomes and a battery of legal claims — estimated at €9bn by Berenberg’s Sebastian Bray — weigh on Bayer shares....
...Bayer last week abandoned a trial of blood-thinner asundexian after it did not work as hoped to treat heart disease....
...Bayer paid $65bn for Monsanto assets that included a glyphosate weedkiller called Roundup....
...Bayer has set aside $6.4bn for future Roundup litigation costs, and S&P has estimated that Bayer will spend $3bn on litigation overall this year....
...They produce prescription drugs against cancer, heart disease and other illness, over-the-counter healthcare products like Bepanthen cream as well as seeds and herbicides for farmers....
...For years, companies such as McKinsey, Air France and Bayer have been buying carbon credits from Southern Cardamom, one of Cambodia’s largest nature restoration projects....
...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....
...The region-wide Stoxx 600 gained 0.1 per cent, while Germany’s Dax dipped 0.1 per cent, as shares in Frankfurt-listed Bayer AG plunged 18 per cent after the group abandoned a key late-stage trial of a blood-thinning...
...Moreover, the transaction exposed Bayer to Monsanto’s litigation risk. Bayer was forced to pay $10bn in settlements over Monsanto’s weedkiller glyphosate allegedly causing cancer....
...companies GSK and Roche, Dutch chip company ASML, Switzerland’s Nestlé and Novartis, Danish drugmaker Novo Nordisk, France’s L’Oréal and LVMH, the UK’s AstraZeneca, German software company SAP and French healthcare...
...In a presentation sent to Bayer earlier this week, the small activist investor, which says it holds an undisclosed stake, welcomed Bayer’s appointment of Bill Anderson, former head of Roche’s pharmaceutical...
...One of his main goals will be to slim down Bayer’s internal bureaucracy....
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