Bayer’s turnaround plan: Focus on specialty drugs, lower costs and fewer big bets
After a series of brutal setbacks that have chopped Bayer’s market value by around 21% in the last month, the German drugmaker unveiled an overhauled strategy involving fewer big bets, a focus on its early pipeline, and plans to use its resources at home in Germany to lower costs.
On a Tuesday morning call with investors, new CEO Bill Anderson said that despite the recent disappointments, Bayer has a “healthy” early-stage pipeline that could still yield positive milestones, according to a transcript provided by AlphaSense. “We have eight INDs so far this year and we’re still working on some,” he said.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
