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Bayer

Bayer is a German healthcare and agriculture conglomerate. Healthcare provides close to half of the company's sales and includes pharmaceutical drugs as well as vitamins and other consumer healthcare products. The firm also has a crop science business that includes seeds, pesticides, herbicides, and fungicides, which was expanded through the acquisition of Monsanto.

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Pennsylvania judge cuts Bayer&#39;s $2.25 billion Roundup verdict to $400 million. Both Bayer and plaintiff plan appeals in the ongoing cancer litigation.

Judge Slashes Bayer&#39;s Massive $2B Roundup Verdict To $400M

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European equities up, ECB likely to cut rates in June, traders confident. Euro slightly higher. Top performers: RWE, Bayer, VW, Enel, Iberdrola.

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Cencora reports a cyberattack exposing sensitive medical information, including patient names, addresses, birth dates, diagnoses, and medications.

After UnitedHealth Cyberattack, Drug Distributor Cencora Notifies Americans&#39; Health Information Stolen In Data Breach In February

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Bayer to present detailed Phase 3 OASIS 1 and 2 study results showing elinzanetant significantly reduces moderate to severe menopausal vasomotor symptoms compared to placebo.

Bayer Highlights Detailed Data From Twin Late-Stage Trials On Experimental Menopause Candidate, Seeks Regulatory Approval

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On Sunday, Pfizer (NYSE: PFE) and AstraZeneca Plc (NASDAQ: AZN) were among the pharmaceutical companies who announced they will be investing a total of nearly $1 billion in their operations in France, just ahead of this year’s “Choose Franc

Pfizer, AstraZeneca, Sanofi And Mainz Biomed To Uplevel Europe&#39;s Pharma Game

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Unlock the potential of AI in pharmaceuticals. With AI&#39;s help, the pharma industry could see $60B-$110B in annual economic value. Dive into the future of drug discovery and clinical development with leading players like Google, Nvidia, and Microsoft.

From Hype To Reality, AI Reshapes Pharmaceutical Industry Across Drug Discovery To Marketing - Stocks To Watch

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Bayer&#39;s Monsanto unit secures a significant legal victory as Washington state appeals court overturns $185 million verdict over chemical contamination. This highlights broader legal battles over PCBs and glyphosate&#39;s alleged cancer-causing effects.

Bayer&#39;s Monsanto Scores Legal Victory as $185M Verdict Overturned

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Unlock AI-powered radiology solutions with Bayer AG and Google Cloud collaboration. Accelerate medical imaging innovations with gen AI tools for faster diagnoses.

Google Partners With European Conglomerate Bayer For New AI-Powered Solutions For Radiologists

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Bayer AG

A Pennsylvania judge on Tuesday drastically reduced a $2.25 billion verdict against Bayer AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>), cutting it down to $400 million in a case involving a man who claimed he developed cancer from using the company&#8217;s Roundup weedkiller.
The jury in the Philadelphia Court of Common Pleas had initially awarded John McKivison $250 million in compensatory damages and $2 billion in punitive damages, finding that his non-Hodgkin&#8217;s lymphoma was caused by long-term use of Roundup at his home.
However, Judge Susan Schulman later adjusted the damages to $50 million in compensatory and $350 million in punitive, citing Bayer&#8217;s challenges.
Bayer intends to appeal to the Superior Court of Pennsylvania, arguing that the trial included misleading and &#8220;inflammatory&#8221; testimony. Reuters noted that the company also called for legislative reform to shield companies that comply with federal labeling standards.
McKivison&#8217;s legal team expressed satisfaction that the jury&#8217;s decision to link Roundup to cancer was upheld.
However, they plan to appeal for the reinstatement of the original $2.25 billion verdict, stating that the reduction deviates from established Pennsylvania law.
Despite numerous studies indicating that glyphosate, the active ingredient in Roundup, is safe for human use, the product has faced extensive legal challenges.
Roundup, once widely used in U.S. households, saw its home-use sales phased out by Bayer last year.
Bayer has faced over 165,000 claims in the U.S. alleging that Roundup causes non-Hodgkin&#8217;s lymphoma. Although Bayer has won 14 of the last 20 trials, recent losses have led to over $4 billion in verdicts, shaking investor confidence and company hopes for an end to the litigation.
In 2020, Bayer settled many pending cases for up to $9.6 billion, but future claims remain unresolved, with more than 50,000 still pending.
Price Action: BAYRY shares closed at $7.79 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Judge Slashes Bayer's Massive $2B Roundup Verdict To $400M

European equities ended Monday broadly positive, while the U.S. market was closed for <a href="https://www.benzinga.com/24/05/39027079/is-the-us-stock-market-open-on-memorial-day-why-the-s-p-500-could-end-the-year-on-a-high-note">the Memorial Day holiday. </a>
Traders maintained an overall positive risk sentiment on European assets, driven by near-total certainty that the European Central Bank (ECB) will deliver a rate cut at its June meeting.
Three key ECB members — chief economist Philip Lane, Finland Central Bank governor Olli Rehn and France Central Bank governor François Villeroy de Galhau — made reassuring statements indicating a rate cut is imminent.
<ul>
<li>&#8220;A June rate cut is appropriate if the inflation outlook holds,&#8221; Lane said. </li>
<li>&#8220;Inflation is converging to our 2% target in a sustained way, making it the right time in June to ease the monetary policy stance and start cutting rates,&#8221; Rehn said. </li>
<li>&#8220;Barring a surprise, a June rate cut is a done deal,&#8221; Villeroy said. </li>
</ul>
Traders now almost fully price in a June rate cut and expect a total of 65 basis points in cuts (more than two cuts but less than three) by the end of the year.
The euro, as tracked by the Invesco CurrencyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), inched 0.1% higher to 1.0840. 
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major European Indices</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th class="has-text-align-center" data-align="center">Country</th>
<th>US-Based ETF</th>
<th>Price</th>
<th>1-day %chg</th>
</tr>
</thead>
<tbody>
<tr>
<td class="has-text-align-center" data-align="center">Spain – IBEX 35</td>
<td>iShares MSCI Spain ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWP#NYSE">EWP</a>)</td>
<td>11,335</td>
<td>0.79%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Italy – FTSE MIB </td>
<td>iShares MSCI Italy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWI#NYSE">EWI</a>)</td>
<td>34,751</td>
<td>0.75%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">France – CAC 40</td>
<td>iShares MSCI France Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>)</td>
<td>8,142</td>
<td>0.62%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">EU – Euro Stoxx 50</td>
<td>iShares Europe ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEV#NYSE">IEV</a>)</td>
<td>5,065</td>
<td>0.58%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Germany – DAX </td>
<td>Global X Dax Germany ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAX#NYSE">DAX</a>)</td>
<td>18,793</td>
<td>0.53%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers In Europe</h3>
Monday&#8217;s top performers on the Euro Stoxx 50 index included:
<ul>
<li>RWE AG (OTCPK: RWEOY) +2.55%</li>
<li>Bayer AG (OTCPK: BAYRY) +2.32%</li>
<li>Volkswagen AG (OTCPK: VWAGY) +1.65%</li>
<li>Enel Società per Azioni (OTCPK: ENLAY) +1.6%</li>
<li>Iberdrola S.A. (OTCPK: IBRDY) +1.5%</li>
<li>Eni S.p.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>) +1.38%</li>
</ul>
European pharma giant Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) and France luxury powerhouse LVMH-Moet Hennessy Louis Vuitton (OTCPK: LVMUY) closed 0.9% lower and 0.8% higher, respectively. 
Dutch chipmaker firm ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) closed 0.2% higher, notching the third straight session of gains. 
Among carmakers, Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) rose 1.5%. Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>) closed up 0.7%, positively reacting to its victory in Sunday's Formula 1 Grand Prix in Monte Carlo.
Among major banks, UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) outperformed, up 1%. 
Read now: <a href="https://www.benzinga.com/news/24/05/39028061/alibaba-signs-david-beckham-as-global-brand-ambassador-for-e-commerce-platform">Alibaba Signs David Beckham As Global Brand Ambassador For E-Commerce Platform</a>
Photo via Shutterstock.

European Equities Close Higher As Traders Bank On Imminent ECB Rate Cut: What's Driving Markets Monday?

U.S.&nbsp;drug wholesaler&nbsp;Cencora Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COR#NYSE">COR</a>), formerly&nbsp;AmerisourceBergen, is notifying affected individuals about their personal and&nbsp;highly sensitive&nbsp;medical information stolen during a cyberattack earlier this year.&nbsp;
The healthcare giant revealed that the breached data includes patient names, postal addresses, dates of birth, health diagnoses, and medication details.
In letters this week, TechCrunch&nbsp;<a target="_blank" href="https://techcrunch.com/2024/05/24/cencora-americans-health-data-stolen-breach-cyberattack/?guccounter=1" rel="noreferrer noopener">reported</a>&nbsp;that Cencora had obtained patients&#8217; data through partnerships with other drug makers as part of its patient support programs.&nbsp;
These partnerships include pharmaceutical companies such as AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Acadia Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACAD#NASDAQ">ACAD</a>), Bayer AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>), Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), and Regeneron Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>), among others.
The nature of the cyberattack, which began on February 21, has not been disclosed.&nbsp;
After filing a notice with government regulators, Cencora publicly acknowledged the breach on February 27.&nbsp;
Despite the disclosure, the company has not revealed how many individuals were affected or how many have been notified&nbsp;to date.&nbsp;
Mike Iorfino, a spokesperson for Cencora, confirmed these details in an email to TechCrunch.
This incident is the latest in a series of cyberattacks targeting the&nbsp;U.S.&nbsp;healthcare sector. Recently,&nbsp;UnitedHealth Group Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)-owned Change Healthcare and Ascension&#8217;s hospital network experienced significant breaches and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/04/38388554/patient-data-compromised-unitedhealth-group-admits-ransom-payment-in-cyberattack" rel="noreferrer noopener">operational disruptions</a>.&nbsp;
Related: <a href="https://www.benzinga.com/government/24/05/38563578/us-senate-grills-unitedhealth-ceo-over-cyberattack-fallout-ransom-payment" target="_blank" rel="noreferrer noopener">US Senate Grills United Health&#8217;s Cyberattack Fallout, Ransom Payment</a>.
However, Cencora maintains &#8220;no connection&#8221; between its incident and those affecting Change Healthcare and Ascension.
As a major distributor, Cencora&nbsp;handles around 20% of&nbsp;pharmaceuticals sold and distributed in the United States.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/02/37134638/us-federal-trade-commission-investigates-drug-shortages-amid-allegations-of-market-manipulation" rel="noreferrer noopener">US&nbsp;Federal Trade Commission Investigates Drug Shortages Amid Allegations Of Market Manipulation</a>.
Price Action:&nbsp;COR shares are down 0.41% at $217.70&nbsp;at the last check&nbsp;on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Bits And Splits on Shutterstock

After UnitedHealth Cyberattack, Drug Distributor Cencora Notifies Americans' Health Information Stolen In Data Breach In February

Bayer AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>)&nbsp;<a target="_blank" href="https://www.bayer.com/media/en-us/elinzanetant-significantly-reduces-frequency-and-severity-of-moderate-to-severe-hot-flashes-associated-with-menopause/" rel="noreferrer noopener">will</a>&nbsp;present detailed results from the Phase 3 studies OASIS 1 and 2, showing&nbsp;that the investigational compound elinzanetant significantly reduced the frequency and severity of moderate to severe vasomotor symptoms (hot flashes) associated with menopause compared to placebo.&nbsp;
The company released the topline data showing&nbsp;elinzanetant&nbsp;met all four primary&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36538587/menopause-management-bayers-non-hormonal-treatment-option-shows-efficacy-in-trial" rel="noreferrer noopener">endpoints in both studies</a>.
These data will be presented at the 2024 American College of Obstetricians and Gynecologists (ACOG) Annual Clinical &amp; Scientific Meeting.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/03/37716027/german-conglomerate-bayer-goes-johnson-johnson-way-to-tackle-its-cancer-related-lawsuits" rel="noreferrer noopener">German Conglomerate Bayer Goes Johnson &amp; Johnson Way To Tackle Its&nbsp;Cancer Related&nbsp;Lawsuits</a>.
Elinzanetant met all four primary endpoints in both studies, demonstrating statistically significant reductions in the frequency and severity of moderate to severe VMS from baseline to&nbsp;week&nbsp;4 and 12 compared to placebo.&nbsp;
Elinzanetant showed in OASIS 1&nbsp;significant mean reductions&nbsp;versus placebo for&nbsp;frequency&nbsp;at week 4 with -3.29 and week 12 with -3.22 and&nbsp;for&nbsp;severity&nbsp;at week 4 with -0.33 and week 12 with -0.40.&nbsp;
In OASIS 2,&nbsp;elinzanetant&nbsp;demonstrated significant mean reductions versus placebo for&nbsp;frequency&nbsp;at week 4 with -3.04 and at week 12 with -3.24 and for&nbsp;severity&nbsp;at week 4 with -0.22 and at week 12 with -0.29.&nbsp;
The safety profile of elinzanetant was favorable in both studies with headache and fatigue being the most frequent&nbsp;treatment emergent&nbsp;adverse events (TEAEs) within the elinzanetant groups.
In addition,&nbsp;elinzanetant&nbsp;met its key secondary endpoints&nbsp;showing&nbsp;a statistically significant reduction in the frequency of VMS from baseline to week&nbsp;1&nbsp;and improved sleep disturbances and&nbsp;menopause-related&nbsp;quality of life compared to placebo.&nbsp;
In March, Bayer announced&nbsp;the topline results of the OASIS 3&nbsp;Phase 3 study evaluating the efficacy and long-term safety of the investigational compound&nbsp;elinzanetant&nbsp;versus placebo.&nbsp;
OASIS 3 is the third Phase 3 study in the OASIS&nbsp;<a target="_blank" href="https://www.benzinga.com/24/03/37822314/bayers-third-menopausal-relief-drug-trial-meets-primary-goal-german-conglomerate-seeks-fda-approval" rel="noreferrer noopener">clinical development program</a>.&nbsp;
Bayer will submit the data from the OASIS 1, 2&nbsp;and&nbsp;3 studies to health authorities for approval of marketing authorizations of&nbsp;elinzanetant&nbsp;for moderate to severe VMS associated with menopause.
Read Next: <a href="https://www.benzinga.com/news/24/03/37492549/bayer-holds-splitting-into-separate-units-for-three-years-focus-shifts-on-tackling-challenges" target="_blank" rel="noreferrer noopener">Bayer Holds Splitting Into Separate Units For Three Years, Focus Shifts On Tackling Challenges</a>
Photo by ClareM via Shutterstock

On Sunday, Pfizer (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) and AstraZeneca Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azn#NASDAQ">AZN</a>) were among the pharmaceutical companies who announced they will be investing&nbsp;a total of nearly $1 billion in their operations in France, just ahead of this year&rsquo;s &ldquo;Choose France&rdquo; business summit.&nbsp;Together with the domestic Sanofi (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sny#NASDAQ">SNY</a>), Pfizer, AstraZeneca will together invest &euro;1.87 billion which is more than&nbsp;$2 billion&nbsp;to expand their operations in the country.
AstraZeneca committed 365 million euros, which is about $394 million, to enhance its facilities at its French manufacturing facility in Dunkirk. Pfizer pledged even more, making a commitment to invest 500 million euros or $540 million over the next five years to boost its French R&amp;D capabilities. The leading investor is the Parisian drugmaker, Sanofi, who commited to invest 1 billion euros or $1.1 billion to expand its manufacturing capacity across three of its French sites. With this ambitious biomanufacturing investment, Sanofi promises&nbsp;to significantly strengthen France&rsquo;s ability to control the production of its medicines from start to finish. Moreover, Sanofi made an agreement with a&nbsp;biotech company Novavax to join forces in both expanding access to COVID-19 vaccines, as well as to explore the development of&nbsp;a next-generation flu and COVID-19 combination shot.&nbsp;The latest strategic move with which Sanofi gained access to Novavax&rsquo;s innovative vaccine technology is one of the ways the French company is trying to find new growth avenues amid a competitive landscape.
According to a document from the French government, AbbVie Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abb#NYSE">ABB</a>), GSK plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsk#NYSE">GSK</a>), Novartis AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvs#NYSE">NVS</a>) and even Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>)&rsquo;s health spinoff Kenvue&nbsp;Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kvue#NYSE">KVUE</a>) are also planning to increase their presence in France.&nbsp;
According to the French government, AbbVie commited to spend&nbsp;36 million euros or $39 million to add jobs at its aesthetic medicine facility in Annecy-Pringy while Novartis will invest 30 million euros or $32 million in the creation of a production unit for for a specific treatment of prostate cancer. Kenvue commited invest 10.7 million euros or $11.6 million in the country. By doing so, Kenvue will create 45 jobs. Also, Kenvue is to expand production of four products at its facility in Normandy.
While France is fighting for its place under the pharmaceutical sun,&nbsp;Germany is home to Bayer Aktiengesellschaft (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bayry#OTC">BAYRY</a>), a global titan&nbsp;in the pharmaceutical and life sciences arena, and&nbsp;Merck &amp; Co Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) that&nbsp;established itself as a leader on several fronts as it develops innovative treatments for a range of medical conditions, from chronic diseases to rare disorders.&nbsp;Together with Moderna Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>), Merck developed an experimental mRNA cancer vaccine to treat melanoma. Merck and Moderna ended 2023 by reporting the benefits of the treatment that combines their vaccine with Keytruda, Merck&rsquo;s blockbuster drug, hold up after three years, more specifically,&nbsp;they lower the chance of recurrence or death from melanoma by half. Moreover, with this vaccine that trains the patient&rsquo;s immune system to recognize and attack cancer cells, Merck and Moderna announced they will expand their research to treating a non-small cell lung cancer.
But Germany is also home to smaller companies that are making a big difference in the world, like Mainz Biomed N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mynz#NASDAQ">MYNZ</a>). Mainz Biomed is a molecular genetics diagnostics company that specializes in the early detection of cancer. It is expected to unveil breaktrhough early cancer detection results&nbsp;&nbsp;from its eAArly DETECT study at Digestive Disease Week 2024 in Washington D.C. that will kick off on May 18th. eAArly DETECT&nbsp;is a US multi-site study that enrolled 254 clinical patients across 21 specialized gastroenterology sites. Mainz Biomed will report the results of its colorectal cancer screening test&nbsp;&nbsp;that combines Fecal Immunochemical Test, DNA and mRNA biomarkers with a AI learning algorithm to differentiate between colorectal cancer, advanced adenomas, non-advanced adenomas and patient samples with no findings. Besides improving early detection rates and therefore, simultaneously lowering cancer mortality rates with its non-invasive and easy at-home test ColoAlert, Mainz Biomed is also accelerating the shift to prevention by advancing screening practices for precancerous conditions. While ColoAlert is already marketed across Europe, Mainz Biomed is also developing PancAlert, a pancreatic cancer screening test.
All in all, the above examples show that Europe is determined to fight for the pharmaceutical throne, and it is already home to life-changing breakthroughs.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Pfizer, AstraZeneca, Sanofi And Mainz Biomed To Uplevel Europe's Pharma Game

Pharmaceutical companies have been at the forefront of artificial intelligence for quite some time. Researchers have been using advanced AI models to understand disease mechanisms even before the recent surge in interest.
Wednesday, researchers at&nbsp;Alphabet Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;Google DeepMind&nbsp;developed&nbsp;AlphaFold 3, a new&nbsp;artificial&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/artificial-intelligence" rel="noreferrer noopener">intelligence (AI) model</a>.
AlphaFold&nbsp;3&nbsp;can predict the structure and interactions of biological molecules.&nbsp;This&nbsp;includes proteins, DNA, RNA, and small molecules that&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/05/38711266/google-deepmind-develops-latest-ai-model-to-aid-scientists-in-fighting-disease" rel="noreferrer noopener">could function as drugs</a>.&nbsp;
According to the latest McKinsey Global Institute report, AI technology could generate&nbsp;$60 billion—$110 billion annually&nbsp;in economic value for the pharmaceutical industry, as it can help speed up the process of identifying compounds, their development, and approval.
The report adds that generative&nbsp;AI&#8217;s impact on pharmaceuticals&nbsp;is expected&nbsp;to be profound as the foundational models&nbsp;are built&nbsp;on languages, images, omics, patient information, and other types of data that come together to explain and solve the disease process and effective treatment ways.
Increased drug discovery, approval, and marketing speed can help companies resolve the asset life cycle compression issue, which is the diminishing amount of time companies have to capture the value of the new drug.
McKinsey&#8217;s research shows that the time has decreased to 9.8 years from 11.7 years over the past 20 years.
Despite the speedy discovery, the average cost of discovering and developing new drugs has increased.
Generative AI using augmented foundational models can help accelerate pharma research, with drug discovery timelines cut by almost half. AI tech can have a potential economic value of $15 billion-$28 billion on research and discovery.
The report notes that, on average, ten years and around $1.4 billion are needed to bring one new drug to the market, of which 80%&nbsp;is&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/09/34818722/from-years-to-months-how-ai-is-shaping-the-landscape-of-clinical-trials" rel="noreferrer noopener">associated&nbsp;with clinical development</a>.&nbsp;
Generative AI addresses pain points by increasing efficiency across&nbsp;the clinical development process,&nbsp;unlocking the economic value of $13 billion to $25 billion.
Generative&nbsp;AI tools can deepen relationships between care providers, pharmacists, insurers, and patients&nbsp;to&nbsp;fine-tune campaign strategies in&nbsp;real time, per the report.&nbsp;
Pharma professionals and patients will have substantial data to make faster, smarter decisions, providing a potential opportunity of $18 billion to $30 billion.
In 2023, the&nbsp;World Health Organization&nbsp;unveiled a comprehensive publication highlighting critical regulatory considerations for harnessing the&nbsp;<a target="_blank" href="https://www.benzinga.com/government/23/10/35330203/world-health-organization-addresses-ai-in-healthcare-bias-outlines-guidance-for-regulatory-complianc" rel="noreferrer noopener">potential of&nbsp;AI in healthcare</a>.&nbsp;
In April,&nbsp;Bayer AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>)&nbsp;and&nbsp;Google Cloud announced a&nbsp;collaboration&nbsp;to develop AI solutions to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/04/38169901/google-partners-with-european-conglomerate-bayer-for-new-ai-powered-solutions-for-radiologists" rel="noreferrer noopener">support radiologists</a>.
Key players shaping the market <a href="https://www.benzinga.com/pressreleases/23/10/n35164076/artificial-intelligence-in-healthcare-market-size-worth-usd-201-3-billion-globally-by-2030-at-45-5" target="_blank" rel="noreferrer noopener">include industry giants </a>such as Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Google, General Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Medtronic Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>), Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Amazon Web Services, and Siemens Healthineers.
Photo via Shutterstock

Bayer AG&#8217;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>)&nbsp;Monsanto&nbsp;unit secured a significant victory. A Washington state appeals court overturned a $185 million verdict against the company over chemical contamination at a Seattle-area school.&nbsp;
This&nbsp;marks the second major legal win for the company in recent weeks. The original lawsuit, brought by three teachers who claimed they suffered brain damage from exposure to now-banned chemicals called polychlorinated biphenyls (PCBs), dates back to 2021 when Monsanto spinoff Pharmacia was found liable.
The state Court of Appeals&nbsp;<a target="_blank" href="https://www.reuters.com/legal/bayers-monsanto-wins-reversal-185-million-pcbs-verdict-washington-court-2024-05-02/" rel="noreferrer noopener">ruled</a>&nbsp;that the lower court improperly applied Missouri laws, where Monsanto is based, Reuters highlights, allowing the claims to&nbsp;be filed&nbsp;decades after the company ceased PCB production in 1977.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/03/37716027/german-conglomerate-bayer-goes-johnson-johnson-way-to-tackle-its-cancer-related-lawsuits" rel="noreferrer noopener">German Conglomerate Bayer Goes Johnson &amp; Johnson Way To Tackle Its Cancer-Related Lawsuits</a>.
This decision highlights a broader legal battle over PCBs and the alleged cancer-causing effects of glyphosate, the active ingredient in Monsanto&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/01/36842117/weedkiller-woes-australian-court-nears-decision-in-bayers-roundup-trial" rel="noreferrer noopener">Roundup weed killer</a>.
The U.S. government banned PCBs in 1979 after discovering their link to cancer, yet litigation over their effects has persisted, impacting Bayer&#8217;s shares significantly.&nbsp;
Bayer argued that Washington law limits liability for exposure outside a product&#8217;s useful lifespan, typically 12 years.
Despite the victory, the case will return to the lower court to determine if a new trial is necessary.&nbsp;
Bayer faces approximately 200 similar claims from the school, alleging various health issues due to PCB exposure.&nbsp;
The company views the appeals court&#8217;s identification of multiple errors as highly significant and is considering its legal options regarding this ruling and its potential implications on future trials.
The ruling is part of a series of legal battles inherited by Bayer following its acquisition of Monsanto in 2018, including lawsuits alleging Roundup&#8217;s cancer-causing properties.&nbsp;
Financially, Bayer&#8217;s exposure in PCB contamination&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-02/monsanto-gets-185-million-pcb-verdict-tossed-in-washington?srnd=markets-vp" rel="noreferrer noopener">claims</a>&nbsp;could surpass $2.5 billion, with over $650 million already paid in settlements over waterway pollution lawsuits, according to&nbsp;Bloomberg Intelligence.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/04/38169901/google-partners-with-european-conglomerate-bayer-for-new-ai-powered-solutions-for-radiologists" rel="noreferrer noopener">Google Partners With European Conglomerate Bayer For New AI-Powered Solutions For Radiologists</a>.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Bayer's Monsanto Scores Legal Victory as $185M Verdict Overturned

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2024/04/09/final-trades-nasdaq-alphabet-spotify-charles-schwab-and-teck-resources.html">Halftime Report Final Trades</a>,&quot; Joshua Brown of Ritholtz Wealth Management said Nasdaq, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ndaq#NASDAQ">NDAQ</a>) is&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37937207/nasdaqs-road-ahead-marked-by-tech-innovation-market-expansion-and-less-debt-goldman">going higher.</a>
On April 9, Morgan Stanley analyst Michael Cyprys upgraded Nasdaq from Equal-Weight to Overweight and raised the price target from $59 to $80.
Rob Sechan of NewEdge Wealth named Alphabet Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) as his final trade.
On Tuesday, Bayer AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bayry#OTC">BAYRY</a>) and Alphabet&rsquo;s Google Cloud announced a collaboration to develop artificial intelligence (AI) solutions to support radiologists.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Brian Belski of BMO Capital Markets picked Spotify Technology S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>).
Spotify Technology is expected to report first-quarter earnings on April 23. Wall Street expects the company to report earnings at 81 cents per share and $3.95 billion in revenue.
Joseph M. Terranova said Teck Resources Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/teck#NYSE">TECK</a>) is the way to play gold and copper.
On April 8, Benchmark analyst Nathan Martin maintained Teck Resources with a Buy and raised the price target from $50 to $52.
Stephanie Link of Hightower picked The Charles Schwab Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schw#NYSE">SCHW</a>).
On April 9, JMP Securities analyst Devin Ryan maintained Charles Schwab with a Market Outperform and raised the price target from $77 to $80, while Morgan Stanley analyst Michael Cyprys maintained the stock with an Equal-Weight and boosted the price target from $65 to $71.
<h3>Price Action:</h3>
<ul>
<li>Nasdaq shares gained 2.3% to close at $63.56 on Tuesday.</li>
<li>Alphabet shares rose 1.3% to settle at $158.14 on Tuesday.</li>
<li>Spotify shares fell 2.7% to settle at $300.73 during Tuesday&rsquo;s session.</li>
<li>Shares of Teck Resources gained 4.6% to close at $49.14 on Tuesday.</li>
<li>Charles Schwab shares fell 0.1% to settle at $72.28 during Tuesday&rsquo;s session.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38166239/carmax-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call"> CarMax Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call </a>
Image by <a href="https://pixabay.com/users/davidvives90-13400040/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4440015">David Vives</a> from <a href="https://pixabay.com//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4440015">Pixabay</a>

Alphabet, Nasdaq, Spotify, Teck Resources And A Major Financial Stock On CNBC's 'Final Trades'

On Tuesday,&nbsp;Bayer AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) and&nbsp;Alphabet Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Cloud announced a&nbsp;<a target="_blank" href="https://www.prnewswire.com/news-releases/bayer-and-google-cloud-to-accelerate-development-of-ai-powered-healthcare-applications-for-radiologists-302111532.html" rel="noreferrer noopener">collaboration</a>&nbsp;to develop artificial intelligence (AI) solutions to support radiologists.
As part of the collaboration, Bayer will further develop its platform to accelerate the development and deployment of AI-powered healthcare applications with a clear focus on radiology, using Google Cloud&#8217;s technology, including its generative AI (gen AI) tools.&nbsp;
The collaboration aims to help organizations overcome many challenges to building scalable and compliant AI-powered medical imaging software products using leading data security capabilities and accelerate the development of impactful solutions.
Medical imaging data accounts for about 90% of all healthcare data. It is a highly complex and rich clinical data modality and a critical tool for diagnosing patients.&nbsp;
Billions of medical images get scanned globally each year, and this number continues to grow, increasing the workload for radiologists and other healthcare professionals tasked with handling and interpreting these images for clinicians and patients.&nbsp;
The platform&#8217;s generative AI flags anomalies within images for radiologists to look at, and it can also pull up relevant information from that patient&#8217;s medical history, Thomas Kurian, CEO of Google Cloud,&nbsp;<a target="_blank" href="https://www.cnbc.com/2024/04/09/google-partners-with-bayer-on-new-ai-product-for-radiologists.html" rel="noreferrer noopener">told</a>&nbsp;CNBC.&nbsp;
Suppose a patient comes in for an annual breast cancer screening, for example. In that case, the platform can detect current problems, compare the image to prior screenings, and summarize that information, he said.&nbsp;
The goal is to give radiologists the necessary information and save them from spending 15 or 20 minutes searching through patient records, Kurian said.&nbsp;
Healthcare and life science companies will be able to deploy gen AI medical solutions standardized for flexible integration across compatible healthcare systems and analyze field data for insights, bias detection, and continuous improvement.
The platform is built on Google Cloud and uses tools like Vertex AI, BigQuery, Healthcare API, and Chronicle.&nbsp;
The first version of the Bayer&#8217;s platform for extended testing will be available later this year in the EU and U.S.
Photo by Pixels Hunter on Shutterstock

With interest rates remaining at their highest levels in over two decades, and with U.S. Treasury bonds comfortably exceeding a 4% yield, an increasing number of investors are turning their attention to the <a href="https://www.benzinga.com/money/how-to-buy-corporate-bonds">realm of corporate bonds. </a>
In this landscape, they seek not only promising yield opportunities but also the strategic advantage of diversifying away from equity investments.
The Financial Times recently reported that inflows into corporate bond funds have surged to $22.8 billion in 2024, marking the first positive start to a year since 2019. 
<h3 class="wp-block-heading">Corporate Bonds: Investment Grade Vs. High Yield</h3>
Corporate bonds come in two main types: investment-grade and high-yield. Investment-grade bonds are issued by financially stable companies, while high-yield (or speculative grade) bonds come from riskier firms but offer higher returns.
Rating agencies like S&amp;P, Fitch and Moody&#8217;s determine which category a bond falls into based on the issuer&#8217;s ability to repay debts. Ratings range from AAA (very safe) to D (in default).
For example, companies like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Eli Lilly Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) are rated as investment grade. 
Conversely, firms like AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>), Office Property Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NYSE">OPI</a>) and Navient Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) belong to the speculative-grade world. 
Read also: <a href="https://www.benzinga.com/news/large-cap/24/04/38098774/top-10-us-high-yield-corporate-bonds-with-returns-over-20-in-april-2024">Top 10 US High-Yield Corporate Bonds With Returns Over 20% In April 2024</a>
<h3 class="wp-block-heading">Comparison of Investment Grade And High Yield Bond Ratings</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Rating</th>
<th>Status</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAA</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>AA+</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>AA</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>AA-</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>A+</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>A</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>A-</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>BBB+</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>BBB</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>BBB-</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>BB+</td>
<td>High Yield</td>
</tr>
<tr>
<td>BB</td>
<td>High Yield</td>
</tr>
<tr>
<td>BB-</td>
<td>High Yield</td>
</tr>
<tr>
<td>B+</td>
<td>High Yield</td>
</tr>
<tr>
<td>B</td>
<td>High Yield</td>
</tr>
<tr>
<td>B-</td>
<td>High Yield</td>
</tr>
<tr>
<td>CCC+</td>
<td>High Yield</td>
</tr>
<tr>
<td>CCC</td>
<td>High Yield</td>
</tr>
<tr>
<td>CCC-</td>
<td>High Yield</td>
</tr>
<tr>
<td>CC</td>
<td>High Yield</td>
</tr>
<tr>
<td>C</td>
<td>High Yield</td>
</tr>
<tr>
<td>D</td>
<td>In Default</td>
</tr>
</tbody>
</table>
</figure>
The cutoff between investment-grade and high-yield is at the BB+ rating. Anything below BB+ is considered high yield, while BBB- or higher is investment-grade.
In general, the riskier the bond, the higher the potential return. Investment-grade bonds tend to offer lower yields because they are safer bets, with stronger financial health and better chances of repayment.
However, even within the realm of investment-grade bonds, there are opportunities to find attractive yields from companies with solid fundamentals. 
This allows investors to earn better returns without taking on excessive risk, compared to investing solely in ultra-safe U.S. Treasuries.
<h3 class="wp-block-heading">Highest Yielding Investment-Grade Corporate Bonds As Of April 2024</h3>
Benzinga used the Public.com bond screener to discover which investment-grade corporate bonds offer the best yield as of April 2024.
Below are the top 10 investment-grade corporate bonds with the highest yields:
<ol>
<li>PSEC 3.0% 05/15/2026
<ul>
<li>Issuer: Prospect Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSEC#NASDAQ">PSEC</a>)</li>
<li>Yield: 8.16%</li>
<li>Coupon: 3%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $88.62</li>
<li>Maturity: 05/15/2026</li>
</ul>
</li>
<li>PDM 2.75% 04/01/2032
<ul>
<li>Issuer: Piedmont Office Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDM#NYSE">PDM</a>) </li>
<li>Yield: 7.75%</li>
<li>Coupon: 2.75%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $70.66</li>
<li>Maturity: 04/01/2032</li>
</ul>
</li>
<li>SNX 1.25% 08/09/2024
<ul>
<li>Issuer: Td Synnex Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>)</li>
<li>Yield: 7.59%</li>
<li>Coupon: 1.25%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $97.94</li>
<li>Maturity: 08/09/2024</li>
</ul>
</li>
<li>CHTR 5.875% 11/15/2040
<ul>
<li>Issuer: Spectrum Management Holding Company Llc, owned by Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>)</li>
<li>Yield: 7.41%</li>
<li>Coupon: 5.875%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $85.47</li>
<li>Maturity: 11/15/2040</li>
</ul>
</li>
<li>VNO 3.4% 06/01/2031
<ul>
<li>Issuer: Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>)</li>
<li>Yield: 7.32%</li>
<li>Coupon: 3.4%</li>
<li>Price: $78.49</li>
<li>Maturity: 06/01/2031</li>
</ul>
</li>
<li>F 7.7% 05/15/2097
<ul>
<li>Issuer: Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)</li>
<li>Yield: 7.27%</li>
<li>Coupon: 7.7%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $105.88</li>
<li>Maturity: 05/15/2097</li>
</ul>
</li>
<li>BAYG 5.875% 04/15/2038
<ul>
<li>Issuer: Monsanto Co., owned by Bayer A.G. (OTCPK: BAYRY)</li>
<li>Yield: 7.17%</li>
<li>Coupon: 5.875%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $88.66</li>
<li>Maturity: 04/15/2038</li>
</ul>
</li>
<li>VICI 4.5% 09/01/2026
<ul>
<li>Issuer: Vici Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VICI#NYSE">VICI</a>)</li>
<li>Yield: 7.17%</li>
<li>Coupon: 4.5%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $94.27</li>
<li>Maturity: 09/01/2026</li>
</ul>
</li>
<li>ALLY 6.9% 02/15/2034
<ul>
<li>Issuer: Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>)</li>
<li>Yield: 7.08%</li>
<li>Coupon: 6.9%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $98.75</li>
<li>Maturity: 02/15/2034</li>
</ul>
</li>
<li>CNXC 6.85% 08/02/2033
<ul>
<li>Issuer: Concentrix Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>)</li>
<li>Yield: 7.04%</li>
<li>Coupon: 6.85%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $98.73</li>
<li>Maturity: 08/02/2033</li>
</ul>
</li>
</ol>
Read now: <a href="https://www.benzinga.com/fintech/24/04/38110804/top-10-us-corporate-bonds-by-market-performance-in-2024-april-update">Top 10 US Corporate Bonds By Market Performance In 2024: April Update</a>
Image generated using artificial intelligence with Midjourney.

Tuesday,&nbsp;Bayer AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>)&nbsp;<a target="_blank" href="https://www.bayer.com/media/en-us/positive-topline-results-from-phase-iii-long-term-study-oasis-3-support-submissions-for-marketing-authorization-for-bayers-elinzanetant/" rel="noreferrer noopener">announced</a>&nbsp;topline results of the Phase 3 study OASIS 3 evaluating the efficacy and long-term safety of the investigational compound elinzanetant versus placebo.&nbsp;
In this study, elinzanetant met the primary endpoint, demonstrating a statistically significant reduction in the frequency of moderate to severe vasomotor symptoms (VMS, also known as hot flashes) from baseline to week 12 compared to placebo.&nbsp;
The long-term safety profile observed over 52 weeks in the OASIS 3 study is consistent with previously conducted studies and published data on elinzanetant.
Elinzanetant is the first dual neurokinin-1,3 (NK-1,3) receptor antagonist, in late-stage clinical development for the non-hormonal treatment of moderate to severe VMS associated with menopause, administered orally once daily.
OASIS 3 is the third Phase 3 study in the OASIS clinical development program.&nbsp;
In early 2024, Bayer announced topline data of the first two Phase 3 studies OASIS 1 and 2.
Elinzanetant met all four primary endpoints in both studies, demonstrating statistically significant reductions in the frequency and severity of moderate to severe vasomotor symptoms from baseline to week 4 and 12&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36538587/menopause-management-bayers-non-hormonal-treatment-option-shows-efficacy-in-trial" rel="noreferrer noopener">compared to placebo</a>.
Both studies also achieved all three key secondary endpoints, showing a statistically significant reduction in the frequency of VMS from baseline to week 1 and statistically significant improvements in sleep disturbances and menopause-related quality of life compared to placebo.&nbsp;
Reuters highlighted that Bayer previously estimated the blood-thinning drug could have peak annual sales of more than €5 billion, and the menopause drug elinzanetant was given the potential of about a billion dollars or more per year.
Last year, Acer Therapeutics Inc&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ACER#OTC">ACER</a>) Phase 2a proof of concept clinical trial of ACER-801 (osanetant) as a potential treatment for moderate to severe VMS associated with menopause did not achieve statistical significance to decrease the frequency or severity of hot<a href="https://www.benzinga.com/general/biotech/23/03/31399009/acer-therapeutics-product-acquired-from-sanofi-fails-in-menopause-study" target="_blank" rel="noreferrer noopener"> flashes in postmenopausal women</a>.
Photo by ClareM via Shutterstock

ACER

Bayer's Third Menopausal Relief Drug Trial Meets Primary Goal, German Conglomerate Seeks FDA Approval For Elinzanetant

Bayer AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>) is reportedly considering utilizing the Texas Two-Step bankruptcy approach to tackle the onslaught of lawsuits in the United States implicating its Roundup&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/01/36842117/weedkiller-woes-australian-court-nears-decision-in-bayers-roundup-trial" rel="noreferrer noopener">weedkiller causing cancer</a>.&nbsp;
With an array of recent expensive jury verdicts weighing heavily on the company, executives are strategizing with legal experts to employ this controversial tactic to halt upcoming trials and negotiate a comprehensive settlement for over 50,000 cases.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37492549/bayer-holds-splitting-into-separate-units-for-three-years-focus-shifts-on-tackling-challenges" rel="noreferrer noopener">Bayer Holds Splitting Into Separate Units For Three Years, Focus Shifts On Tackling Challenges</a>.
This maneuver, named after a Texas state law, entails segregating assets and liabilities into distinct units, subsequently filing the liability-loaded unit for bankruptcy to facilitate a global resolution.&nbsp;
Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-13/bayer-weighs-texas-two-step-bankruptcy-filing-over-roundup?srnd=industries-v2&amp;sref=TBDibEcD" rel="noreferrer noopener">noted</a>&nbsp;that similar attempts by companies like&nbsp;3M Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) and&nbsp;Johnson &amp; Johnson&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) were rebuffed by courts in separate litigations.
Facing significant financial repercussions, Bayer is seeking respite following a barrage of adverse verdicts totaling around $4 billion in the past four months alone.&nbsp;
While the company has secured victories in recent trials, including some substantial reductions in awarded damages, a Pennsylvania jury&#8217;s recent $2.25 billion ruling against Bayer underscores the gravity of the situation.&nbsp;
A Pennsylvania jury has ordered Bayer&#8217;s Monsanto to pay over $2.2 billion to former Roundup user John McKivison, who attributed his cancer to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36825453/roundup-cancer-verdict-woes-continue-for-bayer-as-it-faces-2-2b-payout" rel="noreferrer noopener">the popular weedkiller</a>.&nbsp;
The verdict, the largest in the five-year Roundup litigation, includes $250 million for compensatory losses and $2 billion in punitive damages. McKivison, a 49-year-old landscaper, claimed prolonged exposure to Roundup led to his non-Hodgkins lymphoma diagnosis in 2020.
Citing Bruce Markell, a former federal bankruptcy judge and current law professor at&nbsp;Northwestern University, the Wall Street Journal report acknowledges the long odds Bayer faces with the Texas Two-Step but underscores the company&#8217;s limited alternatives.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

German Conglomerate Bayer Goes Johnson & Johnson Way To Tackle Its Cancer Related Lawsuits

IPOs

Boundless Bio Files For IPO; Applies To List Its Common Stock On Nasdaq Under Symbol "BOLD"

Bayer AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>) will&nbsp;<a target="_blank" href="https://www.bayer.com/media/en-us/bayer-aims-to-enhance-performance-and-regain-strategic-flexibility-by-2026--adjusted-guidance-for-2023-achieved/" rel="noreferrer noopener">hold</a>&nbsp;off on plans to break the group, the new CEO Bill Anderson said.
On the question of the company&#8217;s structure and a possible break-up of the group, &#8220;our answer is &#8216;not now&#8217; – and this shouldn&#8217;t be misunderstood as &#8216;never,'&#8221; said Anderson. &#8220;Of course, we will keep an open mind,&#8221; he added. Given the company&#8217;s very limited room to maneuver, &#8220;our priority is on tackling our challenges, boosting performance, and creating strategic flexibility.&#8221;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/01/36842117/weedkiller-woes-australian-court-nears-decision-in-bayers-roundup-trial" rel="noreferrer noopener">Weedkiller Woes: Australian Court Nears Decision in Bayer&#8217;s Roundup Trial</a>.
In November 2023, &#8220;In terms of structural options, beyond maintaining three divisions, a separation of either Consumer Health or Crop Science remains under evaluation.&#8221;&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/11/35670150/bayer-ceo-resists-full-tri-split-german-conglomerate-cuts-management-jobs-in-the-face-of-q3-loss" rel="noreferrer noopener">the CEO said</a>.&nbsp;
&#8220;We have also taken some options out of consideration. For example, we considered simultaneously splitting the company into three businesses. We&#8217;re ruling that option out. A three-way split would require a two-step process.&#8221;&nbsp;
For the next 24 to 36 months, Bayer will focus on its pharmaceuticals pipeline, addressing litigation, reducing debt, and implementing its radical new operating model, Dynamic Shared Ownership, to improve performance.
The cutbacks will reduce annual costs by €2 billion from 2026, the CEO noted.
Bayer&#8217;s agricultural business (Crop Science) fiscal year 2023 sales fell by 3.7% to €23.27 billion, primarily attributable to lower prices for glyphosate-based products.
Prescription medicines (Pharmaceuticals) were level year on year at €18.081 billion.
Sales of self-care products (Consumer Health) increased by 6.3% to €6.03 billion against a strong prior year.
Guidance:&nbsp;Bayer guided fiscal year 2024 sales of €47 billion to €49 billion, with adjusted EBITDA of €10.7 billion to €11.3 billion.&nbsp;
It forecasts core earnings per share of €5.10 to €5.50.
The company forecasts a free cash flow of €2 billion to €3 billion, and net financial debt as of year-end 2024 is expected to amount to €32.5 billion to €33.5 billion.
Price Action: BAYRY stock traded lower by 0.13% at $7.66 on the last check Tuesday.
Photo via Wikimedia Commons

Bayer Holds Splitting Into Separate Units For Three Years, Focus Shifts On Tackling Challenges

Monday,&nbsp;BridgeBio Pharma Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) and&nbsp;Bayer AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>) announced a partnership wherein BridgeBio grants Bayer an exclusive license to commercialize acoramidis&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/g37448367/bridgebio-pharma-and-bayer-announce-european-licensing-agreement-for-acoramidis-in-attr-cm" rel="noreferrer noopener">for ATTR-CM in Europe</a>.&nbsp;
In exchange, BridgeBio will receive up to $310 million, including upfront and near-term milestone payments and additional undisclosed sales milestones.&nbsp;
BridgeBio will also receive royalties in a tiered structure beginning in the low-thirties percent on sales of acoramidis in Europe.
Related Content:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/11/35652192/rare-disease-player-bridgebio-pharmas-upside-potential-is-significant-according-to-citi-analyst-h" rel="noreferrer noopener">Rare Disease Player BridgeBio Pharma&#8217;s Upside Potential Is Significant According to Citi Analyst &#8211; Here&#8217;s Why</a>.
Acoramidis is an investigational, next-generation, orally-administered, highly potent small molecule stabilizer of transthyretin (TTR).&nbsp;
The FDA has accepted BridgeBio&#8217;s NDA for acoramidis for the treatment of ATTR-CM with a PDUFA action date of November 29, 2024; additionally, the EMA has accepted the MAA for acoramidis with potential EU approval in 2025.
In July 2023,&nbsp;BridgeBio Pharma&nbsp;released results from ATTRibute-CM Phase 3 study of acoramidis in transthyretin&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/08/34070722/whats-going-on-with-bridgebio-pharma-stock-today" rel="noreferrer noopener">amyloid cardiomyopathy (ATTR-CM)</a>.&nbsp;
A highly statistically significant improvement in the primary endpoint (a hierarchical analysis prioritizing in order: all-cause mortality, then the frequency of cardiovascular-related hospitalization, then change from baseline in NT-proBNP, then change from baseline in 6-minute walk distance) demonstrated by a Win Ratio of 1.8.
On-treatment survival rate of 81% versus placebo survival rate of 74% (absolute risk reduction of 6.43%; relative risk reduction of 25%).
During the early trading session, BridgeBio Pharma stock traded higher and reached as high as $36.67.
Price Action: BBIO shares are down 7.77% at $32.86 on the last check Monday.

Movers

BBIO

What's Going On With BridgeBio Pharma Stock On Monday?

- BridgeBio grants Bayer exclusive license to commercialize acoramidis as a treatment for patients with transthyretin amyloid cardiomyopathy (ATTR-CM) in Europe
- BridgeBio to receive royalties according to a tiered structure beginning in the low-thirties percent, designed to provide BridgeBio the opportunity to maximally share in the blockbuster potential of acoramidis
- BridgeBio will also receive up to&nbsp;$310 Million&nbsp;USD in upfront and near-term milestone payments, and is eligible for additional undisclosed sales milestones
- BridgeBio&#39;s New Drug Application (NDA) based on positive results from global Phase 3 ATTRibute-CM trial has been accepted by the US Food and Drug Administration (FDA) with a PDUFA action date of November 29, 2024; Marketing Authorization Application (MAA) for acoramidis has been accepted by the European Medicines Agency (EMA), with an expected approval in 2025
- Deal pairs Bayer&#39;s commercial experience and long legacy of expertise in cardiovascular medicine with BridgeBio&#39;s leadership in the emerging field of ATTR-CM

BridgeBio Pharma And Bayer Announce European Licensing Agreement For Acoramidis In ATTR-CM, BridgeBio To Receive $310M Plus Royalties

In a pivotal moment for Australia, an Australian court heard closing arguments on Tuesday in a class action lawsuit against&nbsp;Bayer&nbsp;AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>), alleging that the widely used weedkiller Roundup is linked to cancer.&nbsp;
This marks the first such case in Australia to reach this advanced stage. The lawsuit, encompassing over 1,000 claimants, is significant for the country where Roundup is extensively utilized, and the outcome may set a precedent.
Bayer, already burdened by over 50,000 claims in the U.S., has paid billions to settle allegations that its glyphosate herbicide, Roundup, led to non-Hodgkin lymphoma.&nbsp;
Monday, a Pennsylvania jury ordered Bayer&#8217;s Monsanto to pay over $2.2 billion to former Roundup user John McKivison, who attributed his cancer to the popular weedkiller. 
The verdict, the largest in the five-year Roundup litigation, includes $250 million for compensatory losses and $2 billion in punitive damages. McKivison, a 49-year-old landscaper, claimed prolonged exposure to Roundup led to his non-Hodgkins <a href="https://www.benzinga.com/news/24/01/36825453/roundup-cancer-verdict-woes-continue-for-bayer-as-it-faces-2-2b-payout" target="_blank" rel="noreferrer noopener">lymphoma diagnosis in 2020</a>.
Should the Federal Court in Victoria rule that Roundup caused lymphoma, the subsequent phase will determine whether Bayer was negligent in disclosing product risks and should pay damages.&nbsp;
Reuters notes that while damages in Australia are anticipated to be less substantial than in U.S. cases, Maurice Blackburn, representing the claimants, anticipates &#8220;significant&#8221; compensation for each affected person. Kelvin McNickle, the lead claimant who used Roundup for over two decades, developed lymphoma at 35 and serves as a focal point for the case.
Bayer&#8217;s acquisition of Monsanto, the original producer of Roundup, for $63 billion in 2018 brought the weedkiller into its portfolio. The controversy surrounding Roundup escalated in 2015 when the World Health Organization classified glyphosate as &#8220;probably carcinogenic to humans.&#8221; Bayer agreed to a $9.6 billion settlement in the U.S. in 2020 but faces ongoing legal challenges globally.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Weedkiller Woes: Australian Court Nears Decision in Bayer's Roundup Trial

A Pennsylvania jury has ordered&nbsp;Bayer AG&#8217;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYZF#OTC">BAYZF</a>)&nbsp;Monsanto&nbsp;to pay over $2.2 billion to former Roundup user&nbsp;John McKivison, who attributed his cancer&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/12/36074745/bayer-faces-growing-pressure-amid-roundup-lawsuits-as-philadelphia-trial-nears-conclusion" rel="noreferrer noopener">to the popular weedkiller</a>.&nbsp;
The verdict, the largest in the five-year Roundup litigation, includes $250 million for compensatory losses and $2 billion in punitive damages. McKivison, a 49-year-old landscaper, claimed prolonged exposure to Roundup led to his non-Hodgkins lymphoma diagnosis in 2020.
Responding to the verdict, Bayer&nbsp;<a target="_blank" href="https://www.bayer.com/en/litigation-statement/mckivision" rel="noreferrer noopener">said</a>, &#8220;We disagree with the jury&#8217;s adverse verdict that conflicts with the overwhelming weight of scientific evidence and worldwide regulatory and scientific assessments, and believe that we have strong arguments on appeal to get this verdict overturned and the unconstitutionally excessive damage award eliminated or reduced; previous damage awards have been reduced by more than 90% overall in final judgments. We have a winning record in the Roundup litigation – having won 10 of the last 16 cases at trial – and have resolved the majority of claims filed in this litigation.&#8221;
In December, Bayer emerged victorious in a California lawsuit filed by Bruce Jones, who alleged that the use of Roundup caused his non-Hodgkin lymphoma. This win marked the end of five consecutive trial defeats for the company&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/12/36381876/legal-victory-for-bayer-roundup-lawsuit-ends-five-trial-losing-streak" rel="noreferrer noopener">regarding similar claims</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/11/35940973/german-conglomerate-bayer-faces-investor-scrutiny-amid-unexpected-legal-trial-setbacks" rel="noreferrer noopener">German Conglomerate Bayer Faces Investor Scrutiny Amid Unexpected Legal, Trial Setbacks</a>.
Having earmarked up to $16 billion for over 100,000 Roundup cases, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-01-26/bayer-hit-with-2-2-billion-roundup-cancer-verdict-lawyer-says?sref=TBDibEcD" rel="noreferrer noopener">notes</a>,&nbsp;Bayer&nbsp;faces a second wave of lawsuits alleging carcinogenic effects of glyphosate, Roundup&#8217;s active ingredient.&nbsp;
Earlier this month, Bloomberg News disclosed that company executives were inclined to reject breakup proposals, which involved separating its consumer-health and crops-science divisions.&nbsp;
This decision comes despite investor dissatisfaction with Monsanto, indicating&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/11/35670150/bayer-ceo-resists-full-tri-split-german-conglomerate-cuts-management-jobs-in-the-face-of-q3-loss" rel="noreferrer noopener">resistance to pursuing divisional splits</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/23/11/35844293/bayers-legal-victory-against-merck-delaware-court-rules-in-companys-favor-regarding-talc-lawsuit" target="_blank" rel="noreferrer noopener">Bayer&#8217;s Legal Victory Against Merck: Delaware Court Rules In Company&#8217;s Favor Regarding Talc Lawsuits</a>.
Photo by RomanR for shutterstock

Roundup Cancer Verdict: Woes Continue For Bayer As It Faces $2.2B Payout

Pharmaceutical companies, including&nbsp;Amgen&nbsp;Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amgn#NASDAQ">AMGN</a>) and&nbsp;Pfizer&nbsp;Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>), are strategically positioning themselves to tap into the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/24/01/36572555/bring-on-the-competition-in-obesity-drugs-novo-nordisk-ceo-optimistic-about-prolonged-patient-adh" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">burgeoning obesity market</a>.&nbsp;
The pursuit involves developing innovative drugs or engaging in strategic acquisitions to compete with established players such as&nbsp;Novo Nordisk&nbsp;A/S&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvo#NYSE">NVO</a>) and&nbsp;Eli Lilly And Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>).
<a href="https://www.benzinga.com/24/01/36529310/5-biotech-stocks-that-should-be-on-investors-radar-as-jpmorgan-healthcare-conference-gets-underway-m">At the JPMorgan health conference</a>, Amgen unveiled plans for an experimental dual mechanism obesity drug currently in mid-stage trials.&nbsp;
See Also: <a href="https://www.benzinga.com/general/biotech/24/01/36552329/pfizers-aggressive-stance-in-obesity-drugs-ceo-albert-bourla-confirms-bold-bet-despite-prior-drug">Pfizer&#39;s Aggressive Stance In Obesity Drugs: CEO Albert Bourla Confirms Bold Bet Despite Prior Drug Hurdles</a>
In its presentation, Amgen&nbsp;<a class="editor-rtfLink" href="https://investors.amgen.com/static-files/ccffb8c8-c992-4e9f-a725-6739c5c9def5" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">noted</a>&nbsp;that MariTide (maridebart cafraglutide) is in Phase 2 study, with data readout anticipated in late 2024.&nbsp;
The company is also developing AMG 786 oral small molecule, currently in Phase 1 study, with data readout anticipated in 1H 2024.
Citing Amgen Chief Scientific Officer Jay Bradner, Reuters noted that the goal is to offer a product with fewer side effects and less frequent dosing than the market leaders, Wegovy and Zepbound, developed by Novo Nordisk and Eli Lilly, respectively.&nbsp;
Boehringer Ingelheim, in collaboration with Danish biotech&nbsp;Zealand Pharma, is pioneering an obesity treatment targeting GLP-1 and another hormone, glucagon. This dual approach aims not only to suppress appetite but also to increase energy expenditure.&nbsp;
Similar drugs are being developed by&nbsp;Merck &amp; Co Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) and&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/12/36042805/tale-of-two-investigational-obesity-drugs-altimmune-stock-jumps-while-pfizer-trades-lower" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Altimmune</a>&nbsp;Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alt#NASDAQ">ALT</a>).
Despite the challenges posed by Novo and Lilly&#39;s advanced-stage obesity drugs, pharmaceutical companies like&nbsp;Bayer&nbsp;AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/bayry#OTC">BAYRY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bayzf#OTC">BAYZF</a>) and Pfizer are eager to enter the market.&nbsp;
Bayer&#39;s pharmaceuticals head, Stefan Oelrich, expressed a willingness to explore partnerships, emphasizing the importance of expertise in navigating the obesity landscape.
Pfizer CEO Albert Bourla highlighted the company&#39;s&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/24/01/36552329/pfizers-aggressive-stance-in-obesity-drugs-ceo-albert-bourla-confirms-bold-bet-despite-prior-drug" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">commitment to the obesity market</a>.
Drugmakers are testing these drugs for other health benefits, such as lowering cardiovascular disease risk and obstructive sleep apnea.

AMGN

Large Drugmakers Show Enthusiasm To Embrace $100B Obesity Market, Despite Novo And Lilly's Dominance

Monday,&nbsp;Bayer AG&nbsp;(OTC: BAYRY (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bayzf#OTC">BAYZF</a>)&nbsp;<a class="editor-rtfLink" href="https://www.bayer.com/media/en-us/bayers-elinzanetant-meets-all-primary-and-key-secondary-endpoints-in-pivotal-oasis-1-and-2-phase-iii-studies/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">announced</a>&nbsp;topline results of Phase 3 studies OASIS 1 and 2 evaluating the efficacy and safety of the investigational compound elinzanetant versus placebo.&nbsp;
Elinzanetant is a first dual neurokinin-1,3 (NK-1,3) receptor antagonist, as a non-hormonal treatment of moderate to severe VMS associated with menopause, administered orally once daily.
Elinzanetant met all four primary endpoints in both studies, demonstrating statistically significant reductions in the frequency and severity of moderate to severe vasomotor symptoms (VMS, also known as hot flashes) from baseline to week 4 and 12 compared to placebo.
Both studies also achieved all three key secondary endpoints, showing a statistically significant reduction in the frequency of VMS from baseline to week 1 and statistically significant improvements in sleep disturbances and menopause-related quality of life compared to placebo.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/12/36381876/legal-victory-for-bayer-roundup-lawsuit-ends-five-trial-losing-streak" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Legal Victory For Bayer: Roundup Lawsuit Ends Five-Trial Losing Streak</a>.
The safety profile observed in the OASIS 1 and 2 studies is consistent with previously published data on elinzanetant.
OASIS 1 and 2 randomized 396 and 400 postmenopausal women.
In November, Bayer stopped the OCEANIC-AF Phase 3 study investigating asundexian compared to apixaban (a direct oral anticoagulant) in patients with atrial fibrillation&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/11/35878286/bayers-blood-thinner-study-stopped-early-due-to-lack-of-efficacy-details" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">at risk for stroke</a>.
The decision is based on the study&#39;s Independent Data Monitoring Committee (IDMC) recommendation as part of ongoing surveillance, which showed an inferior efficacy of asundexian versus the control arm.&nbsp;
Last Thursday, Bayer&nbsp;and&nbsp;Asklepios BioPharmaceutical Inc&nbsp;completed an 18-month data collection in the Phase Ib trial for AB-1005 (AAV2-GDNF), an investigational gene therapy for Parkinson&#39;s disease (PD). The study met its primary objective, which was to evaluate the safety of a one-time bilateral delivery of AB-1005&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/24/01/36493163/bayer-study-on-parkinsons-disease-gene-therapy-succeeds-in-early-stage-trial" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">directly to the putamen</a>.
Photo via Wikimedia Commons

Menopause Management: Bayer's Non-Hormonal Treatment Option Shows Efficacy In Trial

Goldman Sachs analyst James Quigley maintained a Hold rating on Bayer (0P6S – Research Report) on July 8 and set a price target of €30.00. The comp...

Bayer (0P6S) Gets a Hold from Goldman Sachs

In a report released today, Charles Bentley, CFA from Jefferies maintained a Hold rating on Bayer (0P6S – Research Report), with a price target of ...

Jefferies Keeps Their Hold Rating on Bayer (0P6S)

UBS analyst Geoff Haire maintained a Hold rating on Bayer (0P6S – Research Report) today and set a price target of €32.00. The company's shares clo...

UBS Sticks to Its Hold Rating for Bayer (0P6S)

ORIC collaborates with Bayer, J&J on prostate cancer study

J&J beats in Q2 as pharma segment outperforms

In a report released today, Richard Vosser from J.P. Morgan maintained a Hold rating on Bayer (0P6S – Research Report), with a price target of €34....


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