Bayer's new pharma launches may be soaring, but that wasn't enough to help the German drugmaker meet analysts' profit estimates for Q4. For 2015, the company expects bigger things--but as it moves forward with plans to bid farewell to its plastics unit and competition ramps up for its best-sellers, its consumer health division will need to start pulling its weight.
Bayer is reportedly near a deal to sell its diabetes device business to KKR-backed Panasonic Healthcare for up to €2 billion ($2.3 billion).
With the hire of Bayer's Olivier Brandicourt as its new CEO, Sanofi will fill the hole it created when it ousted helmsman Chris Viehbacher nearly four months ago. But that means another leadership change is afoot at Brandicourt's current company, which is already in the middle of plenty of shuffling at the top.
Bayer is slated to sell its diabetes devices business to Panasonic Healthcare, according to a report from Bloomberg. The move has been years in the making as Bayer works to sell off peripheral businesses to focus on its core profitable ones.
Bayer has won an approval from England's National Institute for Health and Care Excellence (NICE) for its popular eye drug Eylea. But it was a mixed result. The drugmaker offered a discount to get the approval and then NICE granted it for some, but not all, patients with diabetic macular edema.
Eisai won speedy FDA approval for its new cancer drug Lenvima, eyeing $1 billion in potential sales and setting the stage for a showdown with Bayer's cancer-fighter Nexavar.
Olivier Brandicourt is the man. Sanofi will officially hand the reins to Brandicourt this week, Le Figaro reports, ending months of speculation about the French drugmaker's new CEO. Now heading up Bayer HealthCare, Brandicourt has reportedly been on Sanofi's short list since ex-CEO Chris Viehbacher made his untimely exit--or perhaps before.
Rumors of a reorganization for Bayer are starting to firm up. It's underway and expected to be completed in 2016, according to a recent letter to employees that Bloomberg cited.
After Bayer hives off its plastics business, it's going to remake the rest. The German conglomerate will merge its HealthCare and CropScience divisions into one life-science-focused company, and if sales are any indication, the health side of things will dominate.
Bayer and Johnson & Johnson have plunked down hundreds of millions to study the anticoagulant Xarelto for one use after another. Armed with more indications than any of its warfarin-alternative rivals, Xarelto now has the biggest share of that market.