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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017

BAYER AG

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Bayer : drug shown to slow diabetic kidney disease

10/23/2020 | 10:30am EST

FRANKFURT, Oct 23 (Reuters) - Bayer's finerenone drug slowed the progression of diabetic kidney disease in a late stage clinical trial, underscoring the company's hopes for the drug to generate at least 1 billion euros ($1.2 billion) in annual sales.

In a Phase III trial, finerenone reduced the risk of either kidney failure, a lasting drop in kidney filtration or death from renal failure by 18%, the German drugmaker said on Friday.

It also reduced the risk of a range of serious cardiovascular conditions by 14%.

The drugs and farming pesticides maker needs to upgrade its drug development pipeline amid a weaker outlook for agricultural sales and as it seeks to finalise an $11 billion settlement over claims its Roundup weedkiller causes cancer.

Finerenone is an improved version of a troublesome class of heart drugs called mineralocorticoid receptor antagonists (MRAs)that is associated with a range of side effects.

Bayer, which is testing finerenone against a range of other heart and kidney conditions, plans to request marketing approval in diabetic kidney disease by end of this year.

($1 = 0.8505 euros) (Reporting by Ludwig Burger; Editing by Mark Potter)


© Reuters 2020
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Financials
Sales 2020 42 035 M 50 333 M 50 333 M
Net income 2020 -10 294 M -12 327 M -12 327 M
Net Debt 2020 34 614 M 41 448 M 41 448 M
P/E ratio 2020 -4,36x
Yield 2020 4,54%
Capitalization 47 422 M 56 677 M 56 783 M
EV / Sales 2020 1,95x
EV / Sales 2021 1,91x
Nbr of Employees 100 618
Free-Float 100,0%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 61,32 €
Last Close Price 48,27 €
Spread / Highest target 76,1%
Spread / Average Target 27,0%
Spread / Lowest Target -4,70%
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Managers
NameTitle
Werner Baumann Chairman-Management Board
Norbert Winkeljohann Chairman-Supervisory Board
Wolfgang U. Nickl Chief Financial Officer
Bijoy Sagar Chief Information Technology Officer
Paul Achleitner Member-Supervisory Board
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