(AOF) – Bayer (-18.24% to 33.86 euros) is bottom of the DAX40 after being hit by two bad news. On the one hand, the German chemical group announced on Sunday the abandonment of its Oceanic-AF clinical trial, its anticoagulant Asundexian having proven ineffective. This was one of the main products in its pipeline, the potential of which was estimated at more than €5 billion in annual revenue. On the other hand, Bloomberg reported on Saturday that its subsidiary Monsanto was ordered to pay $1.5 billion by a Missouri court.
Several users of the herbicide Roundup have developed cancer. Jefferies anticipates that the amount of the fine should be reduced on appeal to approximately 10% of this total.
Jefferies believes that the end of the clinical trial is “a hard blow to the pipeline” of Bayer Pharma, as it faces a “patent cliff”, that is to say a significant number of products ready to fall into the public domain. According to the broker, this setback “increases the challenges facing its new CEO” namely weak pipeline and investment needs while debt is high and beset by litigation.
The Oceanic-AF trial was a phase III study comparing asundexian to apixaban (a direct oral anticoagulant) in patients with atrial fibrillation and at risk of stroke. The decision to discontinue it was based on the recommendation of the study’s Independent Data Monitoring Committee (IDMC), after asundexian was shown to be less effective than a control group. Bayer says it will further analyze the data to understand the result and publish the data.
The conviction of Monsanto in a glyphosate case comes a few days after the announcement of a probable reauthorization of the herbicide in the European Union for a period of ten years, the Member States having not reached a majority in favor of it. decide otherwise.
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