Anxious Investors Relieved At Bayer’s Fresh Monsanto Litigation Strategy
Bayer has taken steps to address the concerns of its stockholders by pulling together a legal team for its ongoing US glyphosate litigation, and bringing on board Merck’s Vioxx lawyer.
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GlaxoSmithKline's market value has slipped in the past three years and the number of failures in the clinic have grown. The major's leadership will be casting nervous glances towards a major shareholder that has a reputation for aggressive restructuring calls.
Pharmaceutical sales hit €4.35bn helped by a strong showing in China but as the number of glyphosate plaintiffs in the US jumps to 42,700, the German group's priority is sorting out Monsanto.
Bayer is relinquishing its Animal Health Unit to Elanco as the German major turns its focus more towards life sciences. The money received should help it pay down some Monsanto debt, but there are antitrust concerns.