A top-10 shareholder in Bayer on Tuesday called on the group’s supervisory board to replace chief executive Werner Baumann quickly, adding to investor pressure to restore trust and revive the German drugmaker’s sagging share price.
Bayer predicted on Tuesday its experimental drug against dangerous blood clots could make more than 5 billion euros ($5.4 billion) in peak annual sales, as the company seeks to revive a share price that has drawn interest from activist investors.
A U.S. judge on Thursday barred 3M Co. from trying to avoid liability for injuries current and former U.S. military members sustained from its allegedly defective earplugs by shifting blame to a subsidiary.
Teva Pharmaceuticals will pay up to $4.2 billion in the United States to settle claims related to its role in fueling the country’s opioid crisis, New York Attorney General Letitia James said on Thursday.
GSK beat third-quarter earnings forecasts on Wednesday and raised its 2022 estimate for the second time in four months, continuing its strong start as a standalone prescription medicine business since spinning off its consumer health unit.
Haleon believes it is not liable for any claims that may arise from U.S. litigation over the heartburn drug Zantac, the London-listed company’s CEO Brian McNamara told Reuters on Tuesday.
The news came days after shares of GlaxoSmithKline Plc, Sanofi SA, Pfizer Inc, and Haleon Plc were hit by mounting investor concern about thousands of lawsuits claiming the drug, which U.S. regulators pulled from the market in 2020, causes cancer.
Shares in GSK, Sanofi, Haleon, and Pfizer began to recover on Friday after the companies said that nothing material had changed regarding U.S. litigation focused on heartburn drug Zantac.
Shares in GSK, Sanofi and Haleon fell sharply on Thursday, following declines earlier this week, amid growing concerns about U.S. litigation over a heartburn drug that was pulled from the market in 2020 for containing a probable carcinogen.
The whistleblower claim was brought by former employee Michael Bawduniak, who accused the company of paying off doctors to favor its multiple sclerosis drugs over those of its competitors. The trial for this case was scheduled to begin July 26.