|Bid||52.88 x 28400|
|Ask||52.94 x 2100|
|Day's Range||52.77 - 53.70|
|52 Week Range||44.85 - 78.34|
|Beta (5Y Monthly)||1.19|
|PE Ratio (TTM)||12.73|
|Earnings Date||Apr 27, 2020|
|Forward Dividend & Yield||2.80 (5.30%)|
|Ex-Dividend Date||Apr 29, 2020|
|1y Target Est||120.99|
Novartis and Incyte plan to test their drug Jakavi in patients with coronavirus-caused COVID-19, joining other firms including Roche and Sanofi hoping to repurpose older medicines to help critically ill patients. Jakavi is used in adults with bone marrow cancer, or myelofibrosis, among other conditions. Novartis and Incyte want to see if it helps COVID-19 patients suffering from an immune system overreaction, also called a cytokine storm.
Talks between Bayer AG and plaintiff lawyers to settle claims that the German company's glyphosate-based weedkillers cause cancer have been slowed by the coronavirus pandemic, Bayer's Chief Executive told daily Handelsblatt. Court-appointed mediator Ken Feinberg told Reuters last month that the talks were slowed by the pandemic. In the Handelsblatt interview, CEO Baumann reiterated remarks he made at the end of February that he was under no time pressure to strike a settlement deal and that he would not submit to a schedule or deadline.
The millions of doses of chloroquine donated to the federal stockpile can now be used to treat COVID-19 patients. At the same time, pharmacists are concerned that prescribing the drug for the novel coronavirus has created shortages of the medication for patients with lupus and rheumatoid arthritis and raises questions about safety.
Merck & Co Inc said on Saturday that vericiguat, an investigational drug for patients with worsening chronic heart failure, met the primary efficacy endpoint in the VICTORIA trial. The VICTORIA trial is a Phase 3 study evaluating the efficacy and safety of the drug vericiguat, which is being jointly developed with Bayer AG, the company said. Compared with a placebo, the drug reduced the risk of heart failure hospitalization or cardiovascular death in heart failure patients with reduced ejection fraction (HFrEF) when given in combination with available therapies, Merck said.
WINNIPEG, Manitoba/CHICAGO, March 26 (Reuters) - North America's biggest farm suppliers are accelerating shipments of fertilizer, seeds and agricultural chemicals to crop-growing regions in an unprecedented race against the coronavirus that threatens to disrupt planting season. The timing could not be worse for farmers preparing to plant crops. Disruptions in deliveries of fertilizer, seeds or chemicals could reduce harvests and incomes for U.S. farmers who were hoping this year to sell more crops to China under the terms of a trade agreement signed in January.
India has axed the royalties that local seed companies pay to German drugmaker Bayer AG for Monsanto's genetically modified (GM) cotton, a government order said, after cutting them back since 2016. More than 45 local cotton seed companies pay royalties to Monsanto, acquired by Bayer in 2018, for GM cotton using a gene that produces its own pesticide.
President Donald Trump and the Food and Drug Administration commissioner appeared to exchange conflicting statements about how a decades-old antimalaria drug is being used to treat COVID-19.
The U.S. is wrapping up the first full business week feeling the brunt of the COVID-19 pandemic, with restaurants, bars, parks, retailers and workplaces shut down in many cities across the nation and three states in lockdown.
President Trump touts chloroquine, which has been controversial. Other drugs may find some success in the weeks or months ahead.
Throw away the old playbook, says Bernstein strategist Inigo Fraser Jenkins. Government policy, not the usual factors such as valuation, will drive the stock market for a while
This has been another tough pill to swallow: France’s health ministry has suggested that certain painkillers could aggravate the effects of the coronavirus. Olivier Veran tweeted last week that some nonsteroidal anti-inflammatories (aka NSAIDs) worsen the effects of COVID-19, the disease caused by the novel coronavirus. If you have a fever, take paracetamol [aka acetaminophen].
Shares of Teva Pharmaceutical Industries Ltd. gained 13% in premarket trading on Friday following a Thursday night announcement that the drugmaker will donate more than 6 million doses of hydroxychloroquine sulfate tablets in the U.S. this month. Chloroquine, a longtime malaria drug that is sometimes used as a treatment for rheumatoid arthritis, is being floated as a potential treatment for people sickened by the novel coronavirus by the Trump administration. Teva said in a news release that the drug, which has not received Food and Drug Administration approval as a treatment for COVID-19, has been requested by government officials in efforts to treat the disease. Bayer AG and Mylan have also said they will produce chloroquine therapies as a result of the COVID-19 pandemic. Teva's stock is down 29.9% year-to-date, while the S&P 500 has dropped 25.4%.
U.S. listed shares of Bayer AG rose 3% in trading on Thursday afternoon after it said it had donated three million tablets of Resochin, a chloroquine product, to the U.S. The German drugmaker said that it is seeking an emergency use authorization for the drug in the U.S., where it is not approved. Health care providers in countries like China and France have been using chloroquine-based therapies to treat COVID-19 patients as there are no proven treatments for the disease. At a news conference on Thursday, President Donald Trump talked up use of the antimalaria drug to treat patients who have the novel coronavirus, and FDA commissioner Stephen Hahn said that while chloroquine has been approved for other indications, it would still need to go through clinical trials. Bayer's stock is down 34% year-to-date, while the S&P 500 has dropped 25%.
Bayer AG said on Thursday it has donated 3 million tablets of the malaria drug Resochin to the U.S. government for potential use to treat COVID-19. Resochin, made of chloroquine phosphate and an approved treatment for malaria, is being evaluated in China for its potential use against COVID-19, the disease caused by the fast-spreading coronavirus. Bayer said the drug is currently not approved for use in the United States and the company is working with appropriate agencies on an emergency use authorization for its use in the United States.
Shares of the German drugs and pesticides company have come under immense pressure since it lost the first U.S. lawsuit claiming that glyphosate-based Roundup, acquired via its takeover of Monsanto in 2018, causes cancer. Bayer had also said that based on average analyst predictions of a settlement worth about $10 billion, the company would not have to write down the value of the $63 billion Monsanto acquisition. The settlement still appears poised to end up around $10 billion, the WSJ report https://www.wsj.com/articles/bayer-advances-toward-resolving-roundup-litigation-11584124255?mod=searchresults&page=1&pos=3 said, citing a person familiar with the matter.
(Bloomberg) -- A Bayer AG investor sued the board and other top company officials, claiming the “disastrous” 2018 acquisition of Monsanto Co. eroded the company’s share value by saddling it with potentially billions of dollars in liability from Roundup lawsuits.Bayer AG’s board and other top officials were sued by an investor who claims the “disastrous” 2018 acquisition of Monsanto Co. saddled the company with potentially billions of dollars in costly lawsuits over Roundup herbicide.The German chemical giant “has been engulfed by a tsunami” of litigation alleging Monsanto’s Roundup causes cancer, eroding Bayer’s share value, Rebecca Haussmann said in a suit filed Friday in New York state court in Manhattan. She demanded compensation and punitive damages, as well as disgorgement of pay for executives who helped arrange the deal.Bayer last month estimated it faces about 48,600 U.S. plaintiffs in Roundup cases, up from 18,400 in July. While the company insists the herbicide is safe, it has lost some early cases at trial. It may cost $10 billion to $13 billion to settle the claims, according to estimates by Bloomberg Intelligence analyst Holly Froum.“These verdicts caused Bayer’s market capitalization to collapse by over $60 billion, wiping out the entire ‘value’ of the Monsanto acquisition, damaging Bayer and its shareholders,” Haussmann said in the suit. “The acquisition is now ranked as one of the worst corporate acquisitions in history.”Bayer shares are down 31% since the company completed the $63 billion takeover of Monsanto, prompting some investors to demand the resignation of Chief Executive Officer Werner Baumann.The company has acknowledged that the Roundup litigation may force it to sell assets, issue new equity or borrow money at unfavorable terms. Last month, Bayer said Chairman Werner Wenning would leave in April, before his term expires.The company didn’t immediately respond to a request for comment.Francis A. Bottini Jr., whose firm is among several representing Haussmann, said Bayer went ahead with the deal despite opposition from former CEO Marijn Dekkers, who left the company in 2016.“At the time, there were obviously lawsuits filed, so there were not just red flags, but they were on notice of the allegations,” Bottini said. “This is the only way to recover the harm to the company.”To contact the reporter on this story: Chris Dolmetsch in Federal Court in Manhattan at email@example.comTo contact the editors responsible for this story: David Glovin at firstname.lastname@example.org, Steve StrothFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
CHICAGO/WINNIPEG, Manitoba (Reuters) - Bayer AG's takeover of Monsanto has been beset by problems, and now a decades-long dominance of the $4 billion U.S. soybean seed market is under threat from rival Corteva Inc. Bayer told Reuters it expects plantings of its genetically modified Xtend soybean seeds to flatline this year for the first time, after three years of strong growth since their launch with an accompanying weed-killer. Meanwhile Corteva , formed last year from the agricultural units of Dow Chemical and DuPont, expects its Enlist E3 seed to make up 20% of the U.S. crop in 2020, the first year it has been widely available.
CHICAGO/WINNIPEG, Manitoba, March 4 (Reuters) - Bayer AG's takeover of Monsanto has been beset by problems, and now a decades-long dominance of the $4 billion U.S. soybean seed market is under threat from rival Corteva Inc. Bayer told Reuters it expects plantings of its genetically modified Xtend soybean seeds to flatline this year for the first time, after three years of strong growth since their launch with an accompanying weed-killer.