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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017

BAYER AG

(BAYN)
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Bayer : and WuXi Biologics enter into an agreement on a Leverkusen drug product plant

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01/16/2020 | 02:24am EST
Thursday - January 16, 2020
Bayer and WuXi Biologics enter into an agreement on a Leverkusen drug product plant

Leverkusen, January 16, 2020 - Bayer and WuXi Biologics (WuXi Bio) have entered into an agreement that WuXi Biologics Germany GmbH will take over operations of one of Bayer's final drug product manufacturing plants in Leverkusen, Germany, and purchase the associated equipment, in combination with a long-term lease contract for the building. Based on the manufacturing agreements to be negotiated, the WuXi Bio-operated plant shall serve as a back-up site for final product manufacturing of Kovaltry™ (antihemophilic factor (recombinant), while Bayer's drug substance and drug product facility in Berkeley, California, USA, will remain the major site for the manufacturing and filling of it. The transaction is expected to be concluded in the coming months subject to the satisfaction of customary closing conditions. Financial details were not disclosed.

About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.com.

About WuXi Biologics
WuXi Biologics (stock code: 2269.HK), a Hong Kong-listed company, is a leading global open-access biologics technology platform offering end-to-end solutions to empower organizations to discover, develop and manufacture biologics from concept to commercial manufacturing. Our company history and achievements demonstrate our commitment to providing a truly ONE-stop service offering and strong value proposition to our global clients. As of June 30, 2019, there were a total of 224 integrated projects, including 106 projects in pre-clinical development stage, 102 projects in early-phase (phase I and II) clinical development, 15 projects in late-phase (phase III) development and one project in commercial manufacturing. With total estimated capacity for biopharmaceutical production planned in China, Ireland, Singapore, and the U.S. exceeding 280,000 liters by 2022, we will provide our biomanufacturing partners with a robust and premier-quality global supply chain network. For more information on WuXi Biologics, please visit www.wuxibiologics.com.

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Disclaimer

Bayer AG published this content on 16 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 January 2020 07:22:04 UTC

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Financials (EUR)
Sales 2019 43 985 M
EBIT 2019 7 863 M
Net income 2019 3 104 M
Debt 2019 35 722 M
Yield 2019 3,82%
P/E ratio 2019 24,5x
P/E ratio 2020 15,8x
EV / Sales2019 2,48x
EV / Sales2020 2,30x
Capitalization 73 348 M
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 82,43  €
Last Close Price 74,66  €
Spread / Highest target 64,7%
Spread / Average Target 10,4%
Spread / Lowest Target -48,1%
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NameTitle
Werner Baumann Chairman-Management Board
Werner Wenning Chairman-Supervisory Board
Wolfgang U. Nickl Chief Financial Officer
Katharina Jansen Head-Science & Research
Florian Schwalbach Head-Information Technology & Business Services
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