Turns out it may not be just Bayer's plastics business that's on its way out the door. The company is reportedly exploring a sale of its diabetes device business as it rides pharma's slim-down wave.
Bayer hopes to sell its ailing diabetes device unit to help bolster growth and fund a potential acquisition of Zoetis. The conglomerate would like to focus more closely on medicines, which has been a faster growth area than devices.
Once Bayer raises the billions it anticipates from an IPO of its plastics business, it plans to pay off debt. But after that? Expect some OTC acquisitions, the company's CEO says.
Bayer is already coasting along sales-wise, with some powerhouse new drugs helping it beat analysts' third-quarter forecasts. And those sales will only keep on growing, the company said Thursday as it raised its revenue and profit forecasts.
Multinational pharma companies have been targeting China for years with an eye on its aging population, expanding middle class and growing incidence of chronic maladies like diabetes. So how are Germany's leading pharmas, Bayer and Merck KGaA, carving out an edge for themselves? Reputation, tech-sharing and cold, hard cash.
Bayer's Xarelto, which has been cruising along since it joined a new class of warfarin replacement therapies on the market, has faced a rare stumbling block in acute coronary syndrome--an indication the FDA has denied it on three separate occasions. But across the pond, it's picked up a nod in some ACS patients from the U.K.'s cost-effectiveness gatekeeper.
Regeneron and Bayer's Eylea has been racking up sales that have consistently topped analyst expectations since its U.S. rollout in late 2011. Now, new data may help it potentially top them in a market Novartis and Roche got to first.
Last month, the feds took issue with Bayer's marketing for its Phillips' Colon Health product, saying the company's claims lacked scientific backing. But the way the German pharma sees it, the legal standard the DOJ is holding it to is not only unfair, it's unprecedented.
Hey, young women: You have plans. Dreams. Goals. And by the way, getting pregnant unexpectedly could throw those visions for your future under the bus. That's the (implicit) message in several newly launched campaigns from Pfizer and Bayer Healthcare, including a pitch for Bayer's new device Skyla supported by a fellow millennial, the actress Zosia Mamet of Girls fame.
After standing alone atop the animal health industry since being spun off by Pfizer last year, the question now circulating is if Zoetis will be a target of Bayer now that the German pharmaceutical company's coffers look like they may become flush with cash.