Bayer

Bayer has received approvals for the new stroke drug Asundexian in China and the US. Approval in Germany is still pending, so patients there will have to wait. The development reflects the growing practice of introducing new drugs first in foreign markets. » More on wiwo.de

Bayer has received approvals for the Wuppertal-developed active ingredient Asundexian (brand name Sunharbo) in China and the USA; a European and German approval is being sought for next year. In a study, the drug reduced the risk of a recurrent ischemic stroke by 26 percent in over 12,000 patients. Analysts estimate peak annual sales potential of up to two billion euros in Europe and the USA; Bayer gives no official figures and initial sales expectations had been significantly higher. The group is simultaneously investing in a new plant in the USA while the market launch in Europe remains delayed. » More on wiwo.de

Bayer reported a better-than-expected third quarter, driven by its pharmaceuticals division and products such as Nubeqa. Goldman and UBS raised their price target to €66.00 and recommend “Buy,” while Jefferies remains at “Hold” with a €46.00 target and points to possible one-off items. Adjusted EBITDA surprised on the upside, but core earnings per share stayed below consensus. Investors are cautious after the strong share-price rise, as parts of the success could be deemed unsustainable. » More on deraktionaer.de

Bayer reports a strong boost from new launches such as Nubeqa and Kerendia, which substantially increase the pharmaceuticals division’s sales and profitability. The company raised the EBITDA margin to 25–27% and the adjusted operating profit forecast to €9.8–10.3 billion. Significant progress on debt reduction and favorable court rulings, plus a billion-euro settlement in the glyphosate litigation, reduce legal risk and support the share price performance. » More on faz.net

Despite strong quarterly results from CEO Bill Anderson, the 2018 Monsanto takeover remains a burden for Bayer. In addition to the glyphosate cases, legal risks are mounting over another Monsanto product that could trigger new lawsuits. » More on welt.de