Nov. 21, 2023 7:33 am ET
The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0912 GMT – Bayer is facing challenges on multiple fronts that hasten the need to look at strategic options, Jefferies analysts say in a note. The halt to a late-stage clinical trial of experimental cardiovascular drug asundexian pushes financial risk to the edge, while share-price falls increase sensitivity to rising provisions and potential trial losses in a legal battle over its Roundup weedkiller, Jefferies says. This suggests the German pharmaceutical-and-agricultural group might need to sell assets and scrap dividends to buy time, Jefferies say. However, this isn’t necessarily enough to enable large-scale investments needed in its pharma business, Jefferies says. Jefferies cuts its recommendation on the stock to hold from buy. Shares trade 0.3% higher following Monday’s heavy losses. ([email protected])
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