Core Viewpoint - Bayer AG's shares increased by 6.41% following the announcement that the Supreme Court will review the Durnell Roundup case, which is significant for the company's ongoing litigation related to its glyphosate-based herbicide Roundup [1][9]. Legal Developments - The Supreme Court's review will address a split among federal circuit courts regarding federal preemption, a key issue in the Roundup litigation [2][9]. - The Solicitor General has supported the review, emphasizing the need to resolve the circuit split and advocating for a ruling in favor of Bayer [3][4]. - The Durnell case resulted in a jury awarding $1.25 million in damages for failure to warn, with Monsanto appealing the verdict [6]. Litigation Status - As of October 15, 2025, Bayer has resolved approximately 132,000 of nearly 197,000 claims related to glyphosate, with a reserve of $7.6 billion set aside for ongoing litigation [10][9]. - Bayer has experienced a mix of outcomes in 28 concluded Roundup-related trials, securing favorable results in 17 cases [8]. Financial Performance - Bayer's shares have surged by 138.5% over the past year, significantly outperforming the industry average of 24.1%, driven by new drug approvals and improved performance in its Crop Science business [11]. - The company has seen strong sales from new products like prostate cancer drug Nubeqa and kidney disease drug Kerendia, which have offset declines in sales from Xarelto [12]. Drug Approvals - Bayer recently received FDA approval for elinzanetant for menopause-related symptoms and accelerated approval for Hyrnuo for lung cancer treatment, which are expected to enhance sales [15][16]. - The expansion of key drugs and the approval of additional products are anticipated to further boost sales in Bayer's pharmaceutical division [18].

Core Insights - Bayer AG's shares rose by 6.6% following Orion's projection that long-term annual net sales from Nubeqa could exceed €1 billion, based on collaborative scenario planning [1][7] Group 1: Product Performance and Strategic Priorities - Nubeqa, developed jointly by Bayer and Orion, is approved for various prostate cancer indications in the U.S. [2] - Bayer outlined its strategic priorities for the Pharmaceuticals Division at the J.P. Morgan Healthcare Conference, emphasizing the strong performance of Nubeqa and Kerendia, which are offsetting declining sales of Xarelto [3][4] - Bayer's stock surged 126% over the past year, significantly outperforming the industry growth of 22.7% [4] Group 2: Future Growth Drivers - Bayer is focusing on new drug launches such as Beyonttra, Lynkuet, and asundexian to drive future growth [5][7] - Kerendia received FDA approval for expanded use in heart failure patients, becoming the only non-steroidal mineralocorticoid receptor antagonist approved for chronic kidney disease associated with type 2 diabetes [8] - Asundexian, an investigational oral Factor XIa inhibitor, has shown promising results in late-stage studies and is viewed as a potential blockbuster opportunity [10] Group 3: Oncology and Women's Health Developments - Nubeqa continues to show strong global uptake, with additional phase III readouts expected to extend its use [14] - The FDA approved elinzanetant for menopause-related symptoms, marking a significant boost for Bayer's women's health portfolio [17] - Bayer's pipeline includes advancements in cell therapy and gene therapy, with ongoing developments in treatments for Parkinson's disease and late-onset Pompe disease [18][19] Group 4: Overall Business Outlook - Bayer's pharmaceutical business is entering a new growth phase, supported by key revenue drivers, multiple late-stage catalysts, and a robust pipeline [20]

44th Annual J.P. Morgan Healthcare Conference Stefan Oelrich Member Of The Board Of Management Of Bayer AG President Pharmaceuticals January 13th, 2026 Our Strategy is Showing Tangible Results Nubeqa and Kerendia with sustained growth momentum, offsetting Xarelto declines Next wave of growth with Beyonttra, Lynkuet and Asundexian Robust Eylea Franchise and Foundational Business Driver for near-term growth Renew topline Grow pipeline value New Innovation Model yielding success Five new indications or product ...

Core Insights - Bayer has experienced a significant turnaround in 2025, with shares increasing by 121.6% over the past year, outperforming the industry gain of 19.2% and the S&P 500 Index [1][8]. Group 1: Performance and Market Position - Bayer's stock performance is attributed to new drug approvals, progress in its pipeline, improved Crop Science business performance, and positive updates on ongoing litigations [2]. - The company has outperformed the industry, sector, and S&P 500 Index, driven by FDA label expansions for drugs like Nubeqa and Kerendia, as well as approvals for Lynkuet and Hyrnuo [8]. - Nubeqa generated sales of €1.68 billion in the first nine months of 2025, compensating for the decline in Xarelto sales [9]. Group 2: Drug Approvals and Pipeline Progress - Bayer's pharmaceutical division is bolstered by new products such as Nubeqa and Kerendia, which have maintained strong momentum despite declining Xarelto sales [3]. - The FDA approved a label expansion for Kerendia, making it the only non-steroidal mineralocorticoid receptor antagonist approved in the U.S. for chronic kidney disease associated with type 2 diabetes and heart failure [4]. - Nubeqa received a label expansion for advanced prostate cancer, becoming the first FDA-approved androgen receptor inhibitor for hormone-sensitive prostate cancer [5][6]. - Bayer's pipeline includes promising candidates like gadoquatrane for MRI and asundexian for stroke prevention, with ongoing efforts to submit marketing authorization applications [13][14]. Group 3: Litigation and Financial Outlook - Bayer's stock received a boost from a favorable U.S. Supreme Court review signal regarding Roundup litigation, which has resulted in significant litigation costs [17][19]. - As of September 30, 2025, Bayer reserved $7.6 billion (€6.5 billion) for glyphosate litigation, with approximately 132,000 of nearly 197,000 claims resolved [19][20]. - From a valuation perspective, Bayer's shares trade at a price/earnings ratio of 7.59X forward earnings, below the industry average of 17X, indicating potential undervaluation [21]. - The Zacks Consensus Estimate for 2025 earnings per share has risen from $1.32 to $1.41, reflecting positive sentiment around the company's financial outlook [22].

Core Insights - Bayer's shares increased by 12.1% following the Solicitor General's support for a Supreme Court review of its Roundup weedkiller case, indicating potential positive influence on the court's consideration of Bayer's petition [1][9] - The company has faced numerous lawsuits related to Roundup, with significant litigation costs incurred due to allegations that glyphosate, the active ingredient, caused cancer [2][3] Litigation Overview - Bayer acquired Roundup through the 2018 buyout of Monsanto, which has been the subject of multiple lawsuits alleging cancer risks associated with glyphosate [2] - As of October 15, 2025, 28 Roundup-related trials have concluded, with Monsanto winning 17 cases, while plaintiffs received compensatory damages in the others [4] - Bayer has reserved $7.6 billion (€6.5 billion) for glyphosate litigation as of September 30, 2025, accounting for potential settlements and appeals [7] Recent Developments - Bayer filed a petition with the U.S. Supreme Court in April 2025, seeking clarification on federal versus state law regarding failure-to-warn claims in glyphosate litigation [5] - In June 2025, the U.S. Supreme Court requested the Solicitor General's opinion on the case, while Bayer settled approximately 17,000 claims [6] Financial Performance - Bayer's stock has surged 101.3% year-to-date, significantly outperforming the industry growth of 16.1%, driven by new drug approvals and positive pipeline developments [8] - Key drugs such as Nubeqa and Kerendia are contributing to growth in Bayer's pharmaceuticals division, offsetting declines in Xarelto sales [10] Drug Approvals and Pipeline Progress - The European Commission approved elinzanetant for treating vasomotor symptoms associated with menopause, expanding Bayer's product offerings [12] - The FDA granted accelerated approval to Hyrnuo for specific lung cancer treatments, further enhancing Bayer's portfolio [13] - Bayer's pipeline candidate asundexian showed promising results in a late-stage study for secondary stroke prevention, with plans for global marketing authorization applications [14][15]

Core Insights - Bayer has received European Commission approval for elinzanetant, branded as Lynkuet, to treat moderate to severe vasomotor symptoms (VMS) associated with menopause or adjuvant endocrine therapy related to breast cancer [1][7] - The approval is based on positive results from the OASIS program, which demonstrated a favorable safety profile and met all primary and key secondary endpoints [2][7] - Bayer's shares have increased by 62.1% year to date, significantly outperforming the industry average gain of 14.3% [2] Product Details - Elinzanetant is a dual neurokinin-targeted therapy, specifically an NK-1 and NK-3 receptor antagonist, and is the only hormone-free treatment for moderate to severe VMS [4] - VMS affects up to 80% of women during menopause, with approximately 40% of women in Europe reporting moderate to severe symptoms [4][5] - Lynkuet is already approved in the UK and the US for treating VMS associated with menopause [5] Portfolio Expansion - The approval of Lynkuet enhances Bayer's pharmaceutical portfolio, adding to the momentum of existing drugs like Nubeqa and Kerendia [2][9] - Bayer's Pharmaceuticals division is experiencing growth, compensating for declines in sales of Xarelto, which is co-developed with Johnson & Johnson [8] - Bayer is also working on label expansions for Nubeqa and Kerendia, which could further drive sales growth [9] Pipeline Development - Bayer is making progress in its pipeline, with a new drug application for gadoquatrane accepted for review in the US and China [10] - The company is expanding its capabilities in cell and gene therapy through acquisitions of BlueRock and AskBio, targeting various diseases [11]

Core Insights - Bayer AG reported third-quarter 2025 core earnings of 17 cents per American Depositary Receipt (ADR), exceeding the Zacks Consensus Estimate of 13 cents per ADR, and up from 7 cents per ADR in the same quarter last year [1] - Core earnings per share surged 137.5% year over year, primarily driven by the Crop Science Division's performance [1][8] - Total sales for the quarter were $11.289 billion (€9.7 billion), reflecting a 3.1% decline on a reported basis, with volume growth of 5% offset by a negative pricing impact of 4.1% and a 4.5% negative currency impact [2] Crop Science Division - Crop Science sales increased by 1.3% to €3.8 billion, supported by strong growth in Corn Seed & Traits and non-glyphosate-based herbicides [5] - Corn Seed & Traits sales surged 22.4%, driven by higher planted areas in North America and a solid start to the season in Latin America [5] - Non-glyphosate herbicides sales rose 2.8%, while glyphosate-based product sales remained flat year over year [5] - Fungicide sales decreased by 6.3% due to dry weather conditions in the Europe/Middle East/Africa region [6] Pharmaceuticals Division - Revenues in the Pharmaceuticals segment increased by 0.4% to €4.33 billion [10] - Sales of the ophthalmology drug Eylea decreased by 11.2% to €731 million, impacted by lower prices and competitive pressure from generics [10] - The launch of Eylea 8 mg helped offset some declines, accounting for approximately 27% of overall Eylea sales [11] - Sales of oral anticoagulant Xarelto fell by 31.4% to €540 million due to competitive pressures [13] - Nubeqa sales surged 56.2% to €622 million, and Kerendia sales increased by 85.4% [14] Consumer Health Division - Consumer Health sales rose by 2% to €1.4 billion, although growth was hindered by challenging market conditions in North America and Asia-Pacific [15] - Nutritionals sales increased by 1.1%, while Allergy & Cold business declined by 7.8% [15] Guidance and Pipeline Updates - Bayer reaffirmed its 2025 sales guidance of €46-€48 billion [8][16] - The company expects Consumer Health sales growth to be between -1% to +1% due to a challenging market environment [16] - Recent FDA approval of elinzanetant for menopause-related symptoms is a significant boost for the company [20] - The new drug application for gadoquatrane has been accepted for review in the U.S. and China [18] Market Performance - Year-to-date, Bayer's shares have surged by 62.2%, significantly outperforming the industry gain of 8.4% [2]

Regulatory Approval - Bayer's menopause drug, Lynkuet, received support from US regulators [1] Market Entry - Lynkuet is expected to enter the market in November [1]

Core Insights - Bayer AG reported second-quarter 2025 core earnings of 35 cents per American Depositary Receipt (ADR), exceeding the Zacks Consensus Estimate of 25 cents per ADR and up from 25 cents per ADR in the same quarter last year [1] - Core earnings of €1.23 per share increased by 30.9% year over year, attributed to lower interest expenses and reduced tax outlay [1] Financial Performance - Total sales for the quarter were $12.18 billion (€10.7 billion), a decrease of 3.6% on a reported basis, with volume growth of 0.7% and a positive pricing impact of 0.2% offset by a 4.9% negative currency impact [2] - Sales surpassed the Zacks Consensus Estimate of $12 billion, and on a currency and portfolio-adjusted basis, sales rose by 0.9% year over year [2] - Year-to-date, Bayer's shares have increased by 63.1%, contrasting with a 3.7% decline in the industry [2] Segment Performance - Bayer operates under three segments: Crop Science, Pharmaceuticals, and Consumer Health [4] - Crop Science sales grew by 2.2% to €4.8 billion, driven by a 29.5% increase in Corn Seed & Traits sales due to higher planted areas and price increases [5] - Pharmaceuticals segment sales rose by 0.6% to €4.47 billion, with notable growth from Nubeqa (up 50.5% to €546 million) and Kerendia (up 67.1%) [10] - Consumer Health sales increased slightly by 0.2% to €1.4 billion, with mixed performance across subcategories [13] Guidance and Future Outlook - Bayer raised its 2025 revenue forecast to €46-48 billion, up from the previous range of €45-47 billion, due to stronger-than-expected pharmaceutical performance in the first half of the year [15] - The company expects EBITDA before special items to be between €9.7-10.2 billion in 2025, an increase from the prior projection of €9.5-10 billion [15] Pipeline Developments - Recent approvals include Eylea in China for neovascular age-related macular degeneration and Nubeqa in Europe for metastatic hormone-sensitive prostate cancer [16] - The FDA has extended the review period for elinzanetant, indicating the need for additional time for a full review [19] - Bayer is also seeking approval for the investigational contrast agent gadoquatrane in multiple regions [20] Overall Assessment - Bayer's second-quarter results exceeded expectations, with key drug approvals likely to enhance pharmaceutical sales and mitigate declines in Xarelto sales [21] - The Crop Science segment showed improvement after previous pressures, indicating a potential recovery [21]