The German group is putting another €1.3bn into its Leaps by Bayer investment arm until the end of 2024 to support new companies that are "shifting core paradigms in the sectors of health and agriculture."

An insomnia drug to improve daytime functioning, a treatment for a rare type of eye cancer, and an oral migraine drug for both acute and preventive treatment are among 13 new products recommended for pan-EU approval.

The European Medicines Agency will likely decide this week whether to recommend for pan-EU approval new treatments for insomnia, uveal melanoma, migraine and advanced prostate cancer.

Quick provider uptake will be key for upcoming new drugs covered by the Medicare end stage renal disease prospective payment system.