Core Insights - Bayer AG reported third-quarter 2024 core earnings of 7 cents per ADR, missing the Zacks Consensus Estimate of 17 cents, and down from 10 cents per ADR in the same quarter last year [1] - Core earnings of €0.24 per share decreased by 36.8% year over year due to impairment losses in the Crop Science division [1] - Total sales for the quarter were $10.9 billion (€9.9 billion), reflecting a 3.6% decline on a reported basis, although sales increased by 0.6% year over year on a currency and portfolio-adjusted basis [1][2] Segment Performance - Crop Science sales fell by 3.6% to €4 billion, with herbicides down 11.5% due to volume declines in glyphosate-based products, primarily due to normalized purchasing patterns in Latin and North America [3] - Fungicides sales increased by 13.1%, while Corn Seed & Traits sales decreased by 19.3% due to acreage declines in Latin America [4] - Pharmaceuticals segment revenues rose by 2.3% to €4.5 billion, with Nubeqa sales surging 83.2% to €417 million and Kerendia sales increasing by 96.4% [5] - Sales of Xarelto decreased by 23% to €802 million due to competitive pressure from generics [6] - Eylea sales increased by 8.6% to €848 million, driven by higher volumes in Europe and Japan [7] - Consumer Health sales rose by 5.7% to €1.4 billion, supported by strong demand in Dermatology and Pain & Cardio categories [8] Guidance and Forecast - Bayer reiterated its 2024 sales guidance, expecting total sales between €47 billion and €49 billion [9] - The company revised its forecast for divisional sales, expecting Crop Science sales growth to decline by 1% to 3%, while Pharmaceuticals is expected to grow flat to 3% [10][11] Pipeline Updates - Bayer received regulatory approval for the Eylea 8 mg pre-filled syringe in the EU and filed a new drug application for Nubeqa for a new cancer indication [12] - The FDA accepted the NDA for elinzanetant, an investigational compound for treating menopause-related symptoms [13] Overall Performance Assessment - Bayer's third-quarter performance showed a decline in earnings due to impairment losses in the Crop Science division, but the Pharmaceuticals division exhibited encouraging sales growth [14] - New products like Nubeqa and Kerendia are expected to drive future growth, despite challenges in the Crop Science segment [15]

Financial Data and Key Metrics Changes - Group sales increased slightly by 1% year-on-year in Q3 2024, with growth in Pharmaceuticals and Consumer Health offsetting a decline in Crop Science [15][18] - EBITDA before special items was €1.3 billion, a decrease of 26% or approximately €430 million compared to the prior year [15][16] - Core earnings per share were €0.24, down €0.14 from the previous year, primarily due to lower contributions from EBITDA [16] - Free cash flow for Q3 was €1.1 billion, compared to €1.6 billion in the same quarter last year, with year-to-date free cash flow at minus €200 million [16][17] - Net financial debt was reduced to €35 billion by the end of Q3, aided by positive cash contributions and foreign exchange tailwinds [17] Business Line Data and Key Metrics Changes Crop Science - Sales declined by 4% to approximately €4 billion in Q3, impacted by weather challenges and commodity price softness [18] - EBITDA before special items for Crop Science was €35 million, approximately €60 million above the prior year's quarter [18] Pharmaceuticals - Sales grew by 2% year-on-year to €4.5 billion, driven by strong performance from launch assets like Nubeqa and Kerendia [19] - Xarelto saw a 23% decline in quarterly sales, aligning with guidance of a double-digit sales decline [19] Consumer Health - Achieved 6% year-over-year sales growth in Q3, reaching €1.4 billion, with broad-based growth across categories [20] - Clean EBITDA margin improved to 25.5%, a 330 basis point increase year-over-year [20] Market Data and Key Metrics Changes - The agriculture market is expected to decline around 2% in 2024, with Crop Science facing significant challenges in Latin America [4][21] - Consumer Health is experiencing a slowdown in growth in key markets like the US and China, impacting overall performance [4][21] Company Strategy and Development Direction - The company is focused on operational efficiency and targeted price management to navigate market pressures [23] - There is a commitment to innovation, with plans for significant product launches in the coming years, particularly in Crop Science and Pharmaceuticals [9][35] - The new operating model aims to enhance speed, efficiency, and creativity within the organization [38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year targets for sales growth, core earnings per share, and free cash flow despite headwinds [5][23] - There are concerns about regulatory challenges and generic pricing pressures impacting Crop Science, with a cautious outlook for 2025 [6][21] - The company is committed to addressing litigation issues and maintaining focus on cash conversion and operational performance [11][40] Other Important Information - The company has scaled its new operating model to the majority of the organization, resulting in a reduction of 5,500 jobs, primarily in managerial positions [13] - The company is exploring various avenues to contain litigation risks, particularly related to glyphosate and PCBs [12] Q&A Session Summary Question: Dicamba registration and alternative offerings for farmers - Management discussed the potential impact of not having Dicamba re-registered and outlined plans to offer alternative chemistries to farmers [41][42] Question: Financial outlook for 2025 and operational savings - Management refrained from quantifying EBITDA decline for 2025 but emphasized ongoing efforts to accelerate operational savings [44][45] Question: Xarelto impact clarification - Management clarified that the Xarelto impact is expected to peak in 2026, considering the timeline of genericization [46] Question: Raw material and seed production cost reductions - Management confirmed expectations for lower raw material and seed production costs in 2025, alongside ongoing DSO savings initiatives [48][49]

///////////// Health for all, Hunger for none Q3 2024 Investor Call N o v e m b e r 1 2 , 2 0 2 4 Cautionary Statements Regarding Forward-Looking Information This presentation may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. ...

Group 1 - The article discusses the author's long position in shares of BMY, BAYRY, and BASFY, indicating a positive outlook on these companies [1] - It emphasizes the importance of conducting due diligence and research before making any investment decisions, highlighting the risks associated with short-term trading and options trading [2] - The article clarifies that past performance is not indicative of future results and that no specific investment recommendations are provided [3]

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 ...

Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany. Shares of German life sciences company Bayer fell nearly 7% on Wednesday, after a U.S. court said it would review a case alleging that exposure to products of the company's Monsanto unit harmed individuals. The Washington Supreme Court this week accepted a review of litigation against the German company over the impact of polychlorinated biphenyls (PCBs) exposure at the Sky Valley E ...

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 ...