Bayer To Settle Monsanto Litigation, Retains Capacity For Deals
The health care and crop science conglomerate will pay up to $10.9bn to resolve most Roundup claims, but still has capital to do bolt-on deals like last year’s BlueRock cell therapy buy.
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Bayer is paying $425m upfront to acquire KaNDy Therapeutics, whose CEO tells Scrip that the German group was always the preferred partner due to its long-standing commitment to women’s health.
Turnover at the German group's pharma unit has been hit harder than forecast by the coronavirus pandemic and hefty price cuts linked to China's drug procurement policy but Bayer remains upbeat.
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.