Bayer acquisition plans
This article was originally published in The Tan Sheet
Executive Summary
Bayer is not turning away from pursuing growth in the consumer segment and will continue to look for "useful and value-adding transactions in our OTC portfolio," CEO Werner Wenning maintained during a March 24 conference call on the firm's plans to merge its existing pharmaceuticals division with Berlin-based Schering AG. Bayer announced a $17.47 bil. "white knight" bid for the specialty pharmaceutical firm March 23, thwarting a hostile acquisition attempt from Merck. The move follows existing strategy, Wenning said. "We always pointed out that it is our strategy to strengthen the specialty products business of our pharma division and expand our global position in the OTC business...
You may also be interested in...
US Q1 Consumer Health Earnings Preview: Label This One Historic And Challenging But Promising
US OTC drug and supplement firms’ reports of results for the first three months of 2024 began on April 19 with P&G. JP Morgan analysts say while “some retailers in the US in particular” are reducing consumer health inventories, for the overall sector they expect “a healthier balance of positive volume and lower pricing contribution.”
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.
Partisan Politics Returns To US FDA Congressional Oversight
The US FDA has stood out as an agency that tends to draw broad bipartisan support amid a generally rancorous and divided Congress. A House hearing, however, may be a sign that those days are over.