KEY TAKEAWAYSBayer shares are falling 11% in German trading after the pharmaceuticals and crop science conglomerate reduced its full-year earnings target amid a tough agricultural market.The Monsanto parent said it now expects 2024 EBITDA before special items of between 10.4 billion euros ($11.05 billion) and 10.7 billion euros ($11.36 billion), down from its previous range of between 10.7 billion euros and 11.3 billion euros.Agricultural companies, including Archer Daniels Midland, have been hit by lower g ...

Bayer (BAYRY) announced that it has submitted a marketing authorization application (MAA) to the European Medicines Agency ("EMA") for its pipeline candidate elinzanetant. The MAA is seeking approval of the candidate for the treatment of moderate to severe vasomotor symptoms (VMS, also known as hot flashes) associated with menopause or adjuvant endocrine therapy. Image Source: Zacks Investment Research Year to date, shares of Bayer have lost 21.7% against the industry's growth of 20.6%. BAYRY's Progress Wit ...

Core Viewpoint - Bayer AG's shares experienced a nearly 7% decline following a U.S. court's decision to review a case related to the harmful effects of its Monsanto unit's products [1][3]. Group 1: Legal Challenges - The Washington Supreme Court has agreed to review litigation concerning the impact of polychlorinated biphenyls (PCBs) exposure at the Sky Valley Education Center in Washington state, which is part of a broader set of legal challenges Bayer is facing [2]. - An appeals court previously overturned a $185 million award in May, citing flaws in the case [2]. - Bayer maintains that there is "no basis for a different outcome on appeal," arguing that the claims are based on industrial materials that Monsanto ceased manufacturing in 1977 [4]. Group 2: Financial Performance - Bayer's shares were down 6.76% at 12:45 p.m. London time, marking the company's worst performance since March and extending a year-to-date loss of 13% [3]. - The company faced a significant decline of over 30% in its shares last year due to ongoing litigation and high net debt [3]. Group 3: Historical Context and Settlements - Bayer acquired Monsanto in 2018, which has led to numerous legal challenges regarding alleged health effects, including cancer, from products like Roundup weed killer [5]. - Approximately 125,000 claims have been filed against Roundup in the U.S., with more than half resolved following a $10.9 billion settlement in 2020 [5]. - In September, Bayer achieved a legal victory when the 3rd U.S. Circuit Court of Appeals ruled in its favor regarding a claim that Monsanto failed to include a cancer warning on the Roundup label [6].

Bayer Ag (BAYRY) and its wholly owned subsidiary BlueRock Therapeutics LP announced positive 24-month data from an early-stage study on experimental candidate bemdaneprocel (BRT-DA01). Bemdaneprocel, an investigational cell therapy, is being evaluated for the treatment of Parkinson's disease. exPDite is a multi-center, multi-site, open-label, non-randomized, non-controlled phase I study. Data from the phase I exPDite study at 24 months continue to show a favorable safety profile in all 12 participants in th ...

MustGrow Biologics Corp. (TSX-V:MGRO, OTCQB:MGROF) CEO Corey Giasson joined Proactive to chat about the company's transition to commercialization from its R&D focus. He noted the commercialization of its biofertility product TerraSante, which has gained momentum in key US states. The CEO also discussed MustGrow's partnership with Bayer, which involves a commercial licensing agreement for their soil biopesticide TerraMG. Proactive: Some news today, talking in essence about what's going on within the company ...

Bayer (BAYRY) announced the submission of a supplemental new drug application (sNDA) to the FDA for darolutamide. The sNDA is seeking approval of darolutamide, in combination with androgen deprivation therapy (ADT), in patients with metastatic hormone-sensitive prostate cancer (mHSPC). Darolutamide is an oral androgen receptor inhibitor (ARi) with a distinct chemical structure that binds to the androgen receptor with high affinity and exhibits strong antagonistic activity. It inhibits the receptor function ...

Investors might want to bet on Bayer Aktiengesellschaft (BAYRY) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following yea ...

Bayer (BAYRY) announced positive results from the expansion part of the ongoing early to mid-stage study on pipeline candidate BAY 2927088. BAY 2927088 is an oral, reversible tyrosine kinase inhibitor (TKI) that potently inhibits mutant human epidermal growth factor receptors 2 (HER2), including HER2 exon 20 insertions and HER2 point mutations, as well as epidermal growth factor receptors (EGFR) with high selectivity for mutant versus wild-type EGFR. The phase I/II SOHO-01 study evaluates the safety and pre ...

Core Viewpoint - Bayer's Q2 2024 results were mixed, with strong performance in Pharmaceuticals but challenges in Crop Science, leading to a downgrade in stock valuation from Deep Value to Speculative Value [1][10] Financial Performance - Bayer reported total revenues of €11.1 billion for Q2 2024, a 3% increase from the consensus estimate of €10.8 billion [2] - EBITDA before special items was €2.1 billion, a 2% increase over the consensus estimate of €2.08 billion, while core EPS rose 13% to €0.94, outperforming expectations [2] - Pharmaceuticals division sales increased by 4% to €4.6 billion, exceeding consensus by €191 million, with EBITDA before special items rising 12% YoY to €1.32 billion [2] - Crop Science division faced challenges, with sales of €4.98 billion, just 1% above consensus, but a 25% miss on EBITDA at €524 million [2] - Consumer Health segment reported a 1% increase in sales to €1.46 billion, but a 6% decline in EBITDA to €314 million [2] Cost Management and Restructuring - Bayer is implementing a cost-cutting strategy targeting over €2 billion in structural savings by 2026, with a workforce reduction of approximately 1,500 positions [3] - Headcount has been reduced by nearly 5% YoY, focusing on eliminating bureaucratic layers and unproductive segments [3] Guidance and Outlook - Bayer reiterated its FY24 guidance, expecting group sales around €47.6 billion and an EBITDA margin between 22.5% and 22.6% [4] - The Pharma division's growth guidance was upgraded, while Crop Science is expected to perform at the lower end of sales and EBITDA guidance [4] Litigation Developments - Bayer settled 114,000 out of 172,000 glyphosate-related claims as of Q2, with a significant legal win in the "Schaffner vs. Monsanto" case [5] - The U.S. Third Circuit Court of Appeals ruled in favor of Bayer, which may lead to a Supreme Court review, potentially impacting ongoing glyphosate litigation [5] Long-term Growth Potential - Bayer plans to launch ten blockbuster agricultural products over the next decade, with total revenue potential exceeding €32 billion [6] - The company is focusing on innovative R&D, including new herbicides and digital tools to enhance farming practices [6] Valuation Update - Following Q2 2024 results, Bayer's fair implied share price is updated to €44, reflecting adjusted EPS expectations through 2026 [7][10]

Bayer (BAYRY) announced encouraging detailed results from the late-stage FINEARTS-HF study on finerenone. Finerenone is marketed as Kerendia or Firialta in some countries. The drug is approved for the treatment of adult patients with chronic kidney disease (CKD) associated with type 2 diabetes (T2D) in more than 90 countries worldwide, including China, Europe, Japan and the United States. It is a non-steroidal, selective mineralocorticoid receptor (MR) antagonist that has been shown to block the harmful eff ...