Streetbeat News

BAYZF

Bayer AG

https://www.bayer.de/

CEO

Werner Baumann

Industry

Pharmaceutical Preparation Manufacturing

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An Australian judge dismissed a class action lawsuit alleging Bayer's Roundup weedkiller causes blood cancer, marking a significant victory for Bayer. The ruling supports Bayer's stance on the safety of its glyphosate-based products. Despite this win, Bayer still faces over 50,000 claims in the U.S.

Portfolio Pulse from Vandana Singh

July 25, 2024 | 6:35 pm

A Pennsylvania judge reduced a $2.25 billion verdict against Bayer AG to $400 million in a case involving cancer claims linked to Roundup weedkiller. Bayer plans to appeal the decision, while the plaintiff's legal team seeks to reinstate the original verdict. Despite numerous studies indicating glyphosate's safety, Bayer faces extensive legal challenges and over 50,000 pending claims.

Portfolio Pulse from Vandana Singh

June 05, 2024 | 2:06 pm

Cencora Inc (NYSE:COR) has notified individuals about a data breach that occurred in February, compromising sensitive medical information. The breach involved data obtained through partnerships with pharmaceutical companies such as AbbVie Inc (NYSE:ABBV), Acadia Pharmaceuticals Inc (NASDAQ:ACAD), Bayer AG (OTC:BAYZF, OTC:BAYRY), Novartis AG (NYSE:NVS), and Regeneron Pharmaceuticals Inc (NASDAQ:REGN). The incident is part of a series of cyberattacks targeting the U.S. healthcare sector.

Portfolio Pulse from Vandana Singh

May 24, 2024 | 4:00 pm

Bayer AG's Monsanto unit won a legal victory as a Washington state appeals court overturned a $185 million verdict related to chemical contamination at a school. This decision, marking the company's second major legal win recently, involved a lawsuit from 2021 where three teachers claimed brain damage from exposure to PCBs, banned chemicals Monsanto produced until 1977. The court ruled the lower court improperly applied Missouri laws, allowing claims to be filed decades later. Bayer faces around 200 similar claims, and this ruling could influence future trials and Bayer's financial exposure in PCB contamination claims, potentially surpassing $2.5 billion.

Portfolio Pulse from Vandana Singh

May 02, 2024 | 5:38 pm

Bayer AG announced positive Phase 3 results for elinzanetant, a menopausal relief drug, showing significant reduction in hot flashes compared to placebo. The drug, aiming for FDA approval, could generate over a billion dollars annually. In contrast, Acer Therapeutics' similar trial failed to meet its primary goals.

Portfolio Pulse from Vandana Singh

March 19, 2024 | 1:31 pm

Bayer AG is considering the Texas Two-Step bankruptcy approach to manage over 50,000 lawsuits in the U.S. related to its Roundup weedkiller causing cancer. This strategy, used to segregate assets and liabilities, aims to facilitate a global settlement. Similar attempts by 3M Co and Johnson & Johnson were previously rejected by courts. Bayer faces financial challenges with recent verdicts totaling about $4 billion, including a $2.25 billion ruling in Pennsylvania against its Monsanto unit.

Portfolio Pulse from Vandana Singh

March 14, 2024 | 7:59 pm

Boundless Bio, a biotechnology company, has filed for an Initial Public Offering (IPO) and plans to list its common stock on the Nasdaq under the symbol 'BOLD'. Bayer AG (BAYRY) and its subsidiary Bayerische Motoren Werke AG (BAYZF) are mentioned in relation to their potential interest or involvement in Boundless Bio's market sector.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:59 pm

Bayer AG, under new CEO Bill Anderson, has decided to postpone any plans to split the company into separate units for the next three years, focusing instead on addressing current challenges, boosting performance, and creating strategic flexibility. The company is evaluating the potential separation of its Consumer Health or Crop Science divisions but has ruled out a three-way split. Bayer aims to focus on its pharmaceuticals pipeline, litigation, debt reduction, and implementing a new operating model to improve performance, expecting to cut annual costs by €2 billion from 2026. Fiscal year 2023 saw a decline in Crop Science sales, stable Pharmaceuticals sales, and an increase in Consumer Health sales. Bayer forecasts fiscal year 2024 sales between €47 billion to €49 billion, with adjusted EBITDA of €10.7 billion to €11.3 billion, and core earnings per share of €5.10 to €5.50.

Portfolio Pulse from Vandana Singh

March 05, 2024 | 8:25 pm

BridgeBio Pharma Inc (NASDAQ:BBIO) and Bayer AG (OTC:BAYRY) (OTC:BAYZF) announced a partnership for the commercialization of acoramidis for ATTR-CM in Europe. BridgeBio will receive up to $310 million, including upfront and near-term milestone payments, plus royalties on European sales. The FDA and EMA have accepted applications for acoramidis, with potential approvals in 2024 and 2025 respectively. BridgeBio's stock saw a significant price movement, reaching a high of $36.67 before settling at $32.86, down 7.77%.

Portfolio Pulse from Vandana Singh

March 04, 2024 | 5:31 pm

An Australian court is nearing a decision in a class action lawsuit against Bayer AG, alleging that its weedkiller Roundup causes cancer. This is the first case of its kind in Australia to reach this stage, with over 1,000 claimants. Bayer has already faced over 50,000 claims in the U.S. and recently was ordered to pay $2.2 billion in a Pennsylvania case. The outcome of the Australian case could set a precedent and lead to significant compensation, although likely less than U.S. cases. Bayer acquired Monsanto, the producer of Roundup, in 2018 and has been dealing with legal challenges since.

Portfolio Pulse from Vandana Singh

January 30, 2024 | 12:49 pm

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