Bayer's Job Cuts And Flat 2021 Sales Outlook Disappoint
But Bolt-On Pharma Acquisitions, Product Licensing, To Continue
Licensing agreements and bolt-on acquisitions to strengthen its R&D pipeline are still in Bayer’s sights as the COVID-19 pandemic and currency devaluations have led to the need for job cuts and substantial cost savings at the big pharma company.
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The head of the German group's pharma BD team tells Scrip that Bayer has created a system which allows it to move quickly when sealing partnerships, as seen with the KaNDy buy on 11 August.
The German company is making some dramatic changes to its structure and in terms of pharma R&D, the focus will be very much on external alliances.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.