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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017

BAYER AG

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Bayer : buys British developer of treatment for menopausal symptoms

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08/11/2020 | 03:45am EDT
FILE PHOTO: Logo of Bayer AG at a plant of the German pharmaceutical and chemical maker in Wuppertal

Bayer agreed to acquire British biotech firm KaNDy Therapeutics Ltd. for an initial $425 million to strengthen its women's healthcare business with a prospective non-hormonal treatment of menopausal symptoms.

Apart from the $425 million upfront, Bayer agreed to pay further milestone payments of up to $450 million for certain development achievements, with potentially more than $100 million additional sales-dependent milestone payments, the German drugs and pesticides maker said in a statement on Tuesday.

KaNDy recently completed the second of three phases of testing for NT-814, a new non-hormonal daily pill for the relief of hot flushes and night sweats, which Bayer said could generate peak annual sales of more then 1 billion euros ($1.17 billion).

Bayer is seeking to revive its women's healthcare business as sales of birth control pills, with lead brands Yaz and Yasmin, have been dragged lower by cheaper copied versions.

It is close to settling injury claims over inserted birth control device Essure for more than 1 billion euros.

Previous moves to reinvigorate the franchise include an alliance with Germany's Evotec to develop a treatment of polycystic ovary syndrome (PCOS), the most frequent cause of female infertility.

($1 = 0.8527 euros)

By Ludwig Burger

Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG -1.73% 53.47 Delayed Quote.-26.56%
EVOTEC SE -0.05% 22.01 Delayed Quote.-4.51%
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Financials
Sales 2020 43 305 M 50 377 M 50 377 M
Net income 2020 -2 690 M -3 129 M -3 129 M
Net Debt 2020 32 651 M 37 983 M 37 983 M
P/E ratio 2020 -15,9x
Yield 2020 5,31%
Capitalization 52 530 M 61 032 M 61 108 M
EV / Sales 2020 1,97x
EV / Sales 2021 1,89x
Nbr of Employees 101 168
Free-Float 100,0%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 78,72 €
Last Close Price 53,47 €
Spread / Highest target 106%
Spread / Average Target 47,2%
Spread / Lowest Target -14,0%
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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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