The company stated that it acquired the exclusive marketing rights for Europe for a new drug that is under regulatory review to treat a rare, potentially fatal heart disease for up to $310 million upfront.
Tag Archive for: Bayer
Bayer’s CEO said on Friday that the healthcare and crop chemicals group continues to firmly back its glyphosate weedkiller even after a recent courtroom loss in U.S. litigation over an alleged carcinogenic effect.
Shares in Bayer dropped as much as 5.7% on Monday after the embattled German company was ordered to pay $2.25 billion in damages, the highest amount yet in its ongoing litigation linked to an alleged carcinogenic effect of its Roundup weedkiller.
The sweeping changes are meant to “reduce hierarchies” and “accelerate decision-making” as Bayer weathers several business crises and continues to suffer from the fallout of its disastrous Monsanto acquisition.
The company said the drug eased hot flashes and improved sleep in two late-stage trials, much-needed good news for the German group’s pharmaceuticals unit that is reeling from a recent development setback.
Bayer has won a trial in a lawsuit brought by a California man who said he developed cancer from exposure to its Roundup weedkiller, ending what had been a five-trial losing streak for the company in trials over similar claims.
Plaintiffs have won the last four trials over their claims that the product causes cancer, each time securing a larger verdict. Those losses ended a nine-trial winning streak for Bayer, shattering investor and company hopes that the worst of the Roundup litigation was over.
Advancing precision health and accelerating access to novel epigenetic and multi-omics at-home biomarker tests to empower consumers on their aging journey.
The company has aborted a large late-stage trial testing a new anti-clotting drug due to lack of efficacy, dealing a fresh blow to the embattled drugmaker and throwing its most promising development project in doubt.
Bayer is looking to shake things up with some major company changes after reporting “not acceptable” cash flow for the third quarter on Wednesday.