• Bayer’s shares drop 20% to lowest level since 2009 due to drug development and Roundup trial setback
    yeeloon22 November 2023

    UNITED STATES: Bayer AG (ETR:BAYGN), a prominent German company in the pharmaceutical and agriculture sectors, experienced its largest-ever drop in market value, a staggering loss of approximately €7.6 billion (US$8.3 billion).

    This downturn follows substantial legal issues and setbacks in drug development, intensifying the pressure on the company’s new leadership to articulate a comprehensive turnaround strategy.

    The company’s shares, traded on the Frankfurt Stock Exchange, plummeted by 20%, reaching their lowest point since 2009.

    This decline marks a 30% decrease in share value over the course of this year.



    One of the setbacks occurred when Bayer announced on Sunday (19 Nov) that the late-stage testing of a drug named asundexian, intended for heart disease treatment, would be halted due to its apparent lack of effectiveness.

    Initially projected in January to potentially yield sales surpassing US$5 billion, asundexian was anticipated to be a cornerstone in Bayer’s pharmaceutical portfolio for driving growth.

    Bayer’s Monsanto faces second wave of lawsuit

    Simultaneously, a significant legal blow struck Bayer when a Missouri Circuit Court, in a landmark ruling late on a Friday, mandated that Bayer AG’s subsidiary, Monsanto, must pay a combined sum exceeding US$1.5 billion to three former users of the company’s weed killing product, Roundup.

    These individuals attributed their cancers to the controversial product in what became one of the company’s most substantial trial losses related to the herbicide.

    This verdict adds to a series of recent legal challenges against Monsanto, citing carcinogenic properties in Roundup.

    Notably, the sum of over US$1.5 billion stands as one of the largest damage awards imposed on a US corporate defendant this year.

    Bayer has indicated its intention to contest the verdicts and maintains its stance that the product, Roundup, is safe.

    According to Fortune, these recent developments intensify the challenges for Bill Anderson, who assumed the role of chief executive in June.

    Anderson revealed this month that he’s considering a potential split of the conglomerate into separate entities focused on pharmaceuticals and agriculture.

    Anderson steps into leadership at Bayer during a period fraught with difficulties, particularly stemming from the US$63 billion acquisition of Monsanto, which has soured.

    Additionally, the pharmaceutical unit grapples with patent expirations affecting critical treatments.

    Currently, Bayer is embroiled in another Roundup trial, this time before a state court jury in Philadelphia, involving a plaintiff attributing his cancer to the weed killer.

    The trial is ongoing, and closing arguments are anticipated later this month or in early December, as per lawyers involved in the case.

    Furthermore, another case is scheduled to commence in California in December, while at least three additional cases are slated to begin in Philadelphia in the upcoming months.

    Singapore sovereign fund Temasek invested in Bayer in 2018

    In April 2018, Singapore’s sovereign fund Temasek Holdings decided to invest in Bayer. It bought 3.6 per cent stake for 3 billion euros at 96.77 euros per share at the time.

    The money is used as part of Bayer’s plan to takeover Monsanto. Together with its existing holding in Bayer, Temasek would then own about 4 per cent in Bayer after the transaction.

    By June 2018, with Temasek’s help, Bayer successfully acquired Monsanto to become the biggest seed and agricultural chemical maker in the world.

    However, since the acquisition, lawsuits have been mounting in the US whether Monsanto’s “Roundup” causes cancer.

    Two months after Temasek helped Bayer to acquire Monsanto, in a landmark verdict in August 2018, Monsanto was ordered by a San Francisco court to pay US$289 million in punitive damages and compensatory damages. Bayer’s subsidiary, Monsanto, appealed several times, but lost.

    So far, since the acquisition of Monsanto 5 years ago, Bayer agreed to settle much of that litigation for US$10.9 billion in 2020. As of February this year, about 100,000 claims had been settled or deemed ineligible. Nevertheless, some 40,000 cases are still pending.

    In June, Bayer’s share price was around 52.33 euros, but now it plummetted to merely 33.99 euros as of Wednesday (22 Nov).

    A quick check online shows Temasek is still largely holding on to Bayer’s share. It is the largest shareholder of Bayer with 3.5% of holdings.

    Since Temasek bought 3 billion euros worth of shares at 96.77 euros in 2018, five years ago, that means it has lost 62.78 euros per share or approximately 64% of the original 3 billion euros investment.

    This amounts to about 1.9 billion euros or approximately S$2.7 billion of losses.




    https://gutzy.asia/2023/11/22/bayers-shares-drop-20-to-lowest-level-since-2009-due-to-drug-development-and-roundup-trial-setback
    Bayer’s shares drop 20% to lowest level since 2009 due to drug development and Roundup trial setback yeeloon22 November 2023 UNITED STATES: Bayer AG (ETR:BAYGN), a prominent German company in the pharmaceutical and agriculture sectors, experienced its largest-ever drop in market value, a staggering loss of approximately €7.6 billion (US$8.3 billion). This downturn follows substantial legal issues and setbacks in drug development, intensifying the pressure on the company’s new leadership to articulate a comprehensive turnaround strategy. The company’s shares, traded on the Frankfurt Stock Exchange, plummeted by 20%, reaching their lowest point since 2009. This decline marks a 30% decrease in share value over the course of this year. One of the setbacks occurred when Bayer announced on Sunday (19 Nov) that the late-stage testing of a drug named asundexian, intended for heart disease treatment, would be halted due to its apparent lack of effectiveness. Initially projected in January to potentially yield sales surpassing US$5 billion, asundexian was anticipated to be a cornerstone in Bayer’s pharmaceutical portfolio for driving growth. Bayer’s Monsanto faces second wave of lawsuit Simultaneously, a significant legal blow struck Bayer when a Missouri Circuit Court, in a landmark ruling late on a Friday, mandated that Bayer AG’s subsidiary, Monsanto, must pay a combined sum exceeding US$1.5 billion to three former users of the company’s weed killing product, Roundup. These individuals attributed their cancers to the controversial product in what became one of the company’s most substantial trial losses related to the herbicide. This verdict adds to a series of recent legal challenges against Monsanto, citing carcinogenic properties in Roundup. Notably, the sum of over US$1.5 billion stands as one of the largest damage awards imposed on a US corporate defendant this year. Bayer has indicated its intention to contest the verdicts and maintains its stance that the product, Roundup, is safe. According to Fortune, these recent developments intensify the challenges for Bill Anderson, who assumed the role of chief executive in June. Anderson revealed this month that he’s considering a potential split of the conglomerate into separate entities focused on pharmaceuticals and agriculture. Anderson steps into leadership at Bayer during a period fraught with difficulties, particularly stemming from the US$63 billion acquisition of Monsanto, which has soured. Additionally, the pharmaceutical unit grapples with patent expirations affecting critical treatments. Currently, Bayer is embroiled in another Roundup trial, this time before a state court jury in Philadelphia, involving a plaintiff attributing his cancer to the weed killer. The trial is ongoing, and closing arguments are anticipated later this month or in early December, as per lawyers involved in the case. Furthermore, another case is scheduled to commence in California in December, while at least three additional cases are slated to begin in Philadelphia in the upcoming months. Singapore sovereign fund Temasek invested in Bayer in 2018 In April 2018, Singapore’s sovereign fund Temasek Holdings decided to invest in Bayer. It bought 3.6 per cent stake for 3 billion euros at 96.77 euros per share at the time. The money is used as part of Bayer’s plan to takeover Monsanto. Together with its existing holding in Bayer, Temasek would then own about 4 per cent in Bayer after the transaction. By June 2018, with Temasek’s help, Bayer successfully acquired Monsanto to become the biggest seed and agricultural chemical maker in the world. However, since the acquisition, lawsuits have been mounting in the US whether Monsanto’s “Roundup” causes cancer. Two months after Temasek helped Bayer to acquire Monsanto, in a landmark verdict in August 2018, Monsanto was ordered by a San Francisco court to pay US$289 million in punitive damages and compensatory damages. Bayer’s subsidiary, Monsanto, appealed several times, but lost. So far, since the acquisition of Monsanto 5 years ago, Bayer agreed to settle much of that litigation for US$10.9 billion in 2020. As of February this year, about 100,000 claims had been settled or deemed ineligible. Nevertheless, some 40,000 cases are still pending. In June, Bayer’s share price was around 52.33 euros, but now it plummetted to merely 33.99 euros as of Wednesday (22 Nov). A quick check online shows Temasek is still largely holding on to Bayer’s share. It is the largest shareholder of Bayer with 3.5% of holdings. Since Temasek bought 3 billion euros worth of shares at 96.77 euros in 2018, five years ago, that means it has lost 62.78 euros per share or approximately 64% of the original 3 billion euros investment. This amounts to about 1.9 billion euros or approximately S$2.7 billion of losses. https://gutzy.asia/2023/11/22/bayers-shares-drop-20-to-lowest-level-since-2009-due-to-drug-development-and-roundup-trial-setback
    GUTZY.ASIA
    Bayer's shares drop 20% to lowest level since 2009 due to drug development and Roundup trial setback
    In a severe blow, Bayer AG suffered its largest market value drop due to setbacks with a new anti-clotting drug and a hefty $1.5 billion fine against its subsidiary, Monsanto, in a recent Roundup trial. Bayer's shares plunged by 20%, reaching their lowest point since 2009. Singapore's Temasek Holdings, which invested 3 billion euros in Bayer in 2018, is now facing a significant 64% loss per share.
    0 Comments 0 Shares 2405 Views
  • In a landmark decision, a Missouri jury has ordered Bayer AG's Monsanto unit to pay more than $1.5 billion in damages to three former users of its Roundup weedkiller.
    In a landmark decision, a Missouri jury has ordered Bayer AG's Monsanto unit to pay more than $1.5 billion in damages to three former users of its Roundup weedkiller.
    WWW.ACTIVISTPOST.COM
    Bayer's Monsanto Hit With $1.5 Billion Verdict in Latest Roundup Cancer Case - Activist Post
    It's one of Monsanto's largest losses in the 5-year litigation, raising new questions about the safety of the controversial product.
    Like
    2
    0 Comments 0 Shares 337 Views
  • Unforgettable Foreign Tour Packages: Explore the World with Us

    Start on a global adventure with our enticing foreign tour packages. Discover the world's wonders, from exotic beaches to historic landmarks, with meticulously crafted itineraries that cater to every traveler's dream. Experience seamless travel planning, luxurious accommodations, and immersive cultural encounters. Book your foreign tour package today and let us turn your travel fantasies into unforgettable memories. Explore, indulge, and create moments that last a lifetime.

    https://indtravels.com/
    Unforgettable Foreign Tour Packages: Explore the World with Us Start on a global adventure with our enticing foreign tour packages. Discover the world's wonders, from exotic beaches to historic landmarks, with meticulously crafted itineraries that cater to every traveler's dream. Experience seamless travel planning, luxurious accommodations, and immersive cultural encounters. Book your foreign tour package today and let us turn your travel fantasies into unforgettable memories. Explore, indulge, and create moments that last a lifetime. https://indtravels.com/
    Home
    Popular Destinations Popular Destinations Best Value Trips Best Value Trips Why Choose Us Handpicked Hotels Hand Picked Hotels with a collection of located throughout tour World Class Service Ind works with groups in the travel industry to ensure you get world class tour services Best Price Guarantee Our Best Price Guarantee on International Flights ,
    0 Comments 0 Shares 1643 Views
  • Thailand tour Packages: Affordable and Unforgettable

    Visit the Grand Palace and the Temple of the Emerald Buddha in Bangkok, two of the most iconic landmarks in Thailand. Explore the ancient ruins of Ayutthaya, a former capital of Thailand. Relax on the beautiful beaches of Phuket or Koh Samui. Visit the hilltribe villages of Chiang Mai and learn about the unique cultures of the people who live there. And that's just the beginning. Thailand tour packages can be customized to fit your interests and budget. So whether you're looking for a relaxing beach vacation, a cultural adventure, or something in between, we have the perfect Thailand tour package for you. Book your Thailand tour package today and start planning your dream vacation.

    https://ajaymodi.com/world/singapore-malaysia-thailand-tour-packages/
    Thailand tour Packages: Affordable and Unforgettable Visit the Grand Palace and the Temple of the Emerald Buddha in Bangkok, two of the most iconic landmarks in Thailand. Explore the ancient ruins of Ayutthaya, a former capital of Thailand. Relax on the beautiful beaches of Phuket or Koh Samui. Visit the hilltribe villages of Chiang Mai and learn about the unique cultures of the people who live there. And that's just the beginning. Thailand tour packages can be customized to fit your interests and budget. So whether you're looking for a relaxing beach vacation, a cultural adventure, or something in between, we have the perfect Thailand tour package for you. Book your Thailand tour package today and start planning your dream vacation. https://ajaymodi.com/world/singapore-malaysia-thailand-tour-packages/
    AJAYMODI.COM
    Ajay Modi Travels | Honeymoon Tour Packages | Couple Tour Packages
    Discover amazing holidays to top destinations for 2022.Click here to find your dream holidays with Ajay Modi Travels. Book at best price Experience a hassle-free vacation with Ajay Modi Travel
    0 Comments 0 Shares 3806 Views
  • Trans teen died from vaginoplasty complications during landmark Dutch study used to justify child sex changes. https://thepostmillennial.com/trans-teen-died-from-vaginoplasty-complications-during-landmark-dutch-study-used-to-justify-child-sex-changes
    Trans teen died from vaginoplasty complications during landmark Dutch study used to justify child sex changes. https://thepostmillennial.com/trans-teen-died-from-vaginoplasty-complications-during-landmark-dutch-study-used-to-justify-child-sex-changes
    0 Comments 0 Shares 557 Views
  • Lisbon, Portugal
    The Monsteiro dos Jeronimos. The most popular monestery and landmark in Portugal. Built over the course of 100 years mostly on the 16th century.
    The Jerónimos Monastery or Hieronymites Monastery (Portuguese: Mosteiro dos Jerónimos, IPA: [muʃˈtɐjɾu ðu(ʒ) ʒɨˈɾɔnimuʃ]) is a former monastery of the Order of Saint Jerome near the Tagus river in the parish of Belém, in the Lisbon Municipality, Portugal. It became the necropolis of the Portuguese royal dynasty of Aviz in the 16th century but was secularized on 28 December 1833 by state decree and its ownership transferred to the charitable institution, Real Casa Pia de Lisboa.
    Lisbon, Portugal The Monsteiro dos Jeronimos. The most popular monestery and landmark in Portugal. Built over the course of 100 years mostly on the 16th century. The Jerónimos Monastery or Hieronymites Monastery (Portuguese: Mosteiro dos Jerónimos, IPA: [muʃˈtɐjɾu ðu(ʒ) ʒɨˈɾɔnimuʃ]) is a former monastery of the Order of Saint Jerome near the Tagus river in the parish of Belém, in the Lisbon Municipality, Portugal. It became the necropolis of the Portuguese royal dynasty of Aviz in the 16th century but was secularized on 28 December 1833 by state decree and its ownership transferred to the charitable institution, Real Casa Pia de Lisboa.
    Like
    2
    0 Comments 0 Shares 1276 Views
  • Beijing City, China

    Beijing is the capital city of the People's Republic of China and one of the most populated cities in the world. It is known for its historical landmarks, such as the Great Wall of China and the Forbidden City, as well as modern architecture, shopping, and cuisine. The city is a major cultural, political, and economic center of China. #china #travel #adventure #someeofficial #vyb #sme #fun #hbit
    Beijing City, China Beijing is the capital city of the People's Republic of China and one of the most populated cities in the world. It is known for its historical landmarks, such as the Great Wall of China and the Forbidden City, as well as modern architecture, shopping, and cuisine. The city is a major cultural, political, and economic center of China. #china #travel #adventure #someeofficial #vyb #sme #fun #hbit
    Like
    2
    0 Comments 0 Shares 1632 Views
  • Gorgeous view from top of Salesforce Tower San Francisco
    -View of Alcatraz in the distance , middle of the bay
    -Salesforce Tower, a 1.4 million-square-foot, 61-story icon, is adjacent to the Transbay Transit Center in San Francisco. The tower is a landmark addition to the San Francisco skyline and is the second tallest building on the West Coast, with its crown soaring to a height of 1,070 feet.
    Gorgeous view from top of Salesforce Tower San Francisco -View of Alcatraz in the distance , middle of the bay -Salesforce Tower, a 1.4 million-square-foot, 61-story icon, is adjacent to the Transbay Transit Center in San Francisco. The tower is a landmark addition to the San Francisco skyline and is the second tallest building on the West Coast, with its crown soaring to a height of 1,070 feet.
    Like
    7
    2 Comments 0 Shares 801 Views 5
  • January 26, 2011
    The Occult Symbolism of the Los Angeles Central Library.
    More often than not, central libraries are more than mere buildings containing books. They’re landmarks designed to impress with stunning architecture and symbolic art. The Los Angeles Central Library is certainly no exception. And look at its symbolism reveals an important fact: The Library is actually a temple of the occult elite’s Luciferian philosophy.
    https://vigilantcitizen.com/sinistersites/the-occult-symbolism-of-the-los-angeles-central-library/
    January 26, 2011 The Occult Symbolism of the Los Angeles Central Library. More often than not, central libraries are more than mere buildings containing books. They’re landmarks designed to impress with stunning architecture and symbolic art. The Los Angeles Central Library is certainly no exception. And look at its symbolism reveals an important fact: The Library is actually a temple of the occult elite’s Luciferian philosophy. https://vigilantcitizen.com/sinistersites/the-occult-symbolism-of-the-los-angeles-central-library/
    VIGILANTCITIZEN.COM
    The Occult Symbolism of the Los Angeles Central Library
    More often than not, central libraries are more than mere buildings containing books. They're landmarks designed to impress with stunning architecture and symbolic art. The Los Angeles Central Library is certainly no exception. And look at its symbolism reveals an important fact: The Library is actually a temple of the occult elite's Luciferian philosophy.
    Like
    1
    0 Comments 0 Shares 1578 Views
  • I did a test run on SoMee's new #video platform. I'll detail that experience in my next post.

    When we visited #BryceCanyon, rather than paying to get into the #NationalPark we scouted around to see what we could for free. Just East of the Canyon right at its base is the city of #Tropic in #Utah. This clip was taken going back West on #StateHWY12 towards Bryce Canyon.

    We didn't stop to check out #MossyCAve, but it looked like something we might want to check out in the future. The #geology around the #cave looked as interesting as the cave itself.

    This is a test post to see what the new #SoMeeVideo platform has to offer. My next post will be to recommend features that may be missing and will be needed for a seemless experience using #SoMee.

    ⁣#SoMee #someeoriginals #originalcontent #photography #RVing #roadtrippin #trail #travel #photography #myphoto #video #SoMeeVideo #LandscapePhotography #nature #scenery #adventure #life #landmarks #InterestingDestinations

    https://play.somee.social/v/p8vnzW
    I did a test run on SoMee's new #video platform. I'll detail that experience in my next post. When we visited #BryceCanyon, rather than paying to get into the #NationalPark we scouted around to see what we could for free. Just East of the Canyon right at its base is the city of #Tropic in #Utah. This clip was taken going back West on #StateHWY12 towards Bryce Canyon. We didn't stop to check out #MossyCAve, but it looked like something we might want to check out in the future. The #geology around the #cave looked as interesting as the cave itself. This is a test post to see what the new #SoMeeVideo platform has to offer. My next post will be to recommend features that may be missing and will be needed for a seemless experience using #SoMee. ⁣#SoMee #someeoriginals #originalcontent #photography #RVing #roadtrippin #trail #travel #photography #myphoto #video #SoMeeVideo #LandscapePhotography #nature #scenery #adventure #life #landmarks #InterestingDestinations https://play.somee.social/v/p8vnzW
    PLAY.SOMEE.SOCIAL
    Mossy Cave in Tropic, Utah
    When we visited #BryceCanyon, rather than paying to get into the #NationalPark we scouted around to see what we could for free. Just East of the Canyon right at its base is the city of #Tropic in #Utah. This clip was tak
    Like
    Love
    18
    3 Comments 0 Shares 7349 Views
  • Here's another shot from #ChimneyRock to give you a bit more of the #history here. Like I mentioned in a previous post, this was a main #landmark used to help guide the #pioneers back in the early days of the U.S.

    This is a huge piece of the history from before and after expanding our claims to the far West. The pioneers went through hardships we can only imagine. I really wish we worked with the #NativeAmerican, rather than exploiting them.

    #SoMee #Awesme #someeoriginals #originalcontent #roadtrippin #hiking #backpacking #trail #travel #photography #myphoto #LandscapePhotography #nature #RVing #Geology #adventure
    Here's another shot from #ChimneyRock to give you a bit more of the #history here. Like I mentioned in a previous post, this was a main #landmark used to help guide the #pioneers back in the early days of the U.S. This is a huge piece of the history from before and after expanding our claims to the far West. The pioneers went through hardships we can only imagine. I really wish we worked with the #NativeAmerican, rather than exploiting them. #SoMee #Awesme #someeoriginals #originalcontent #roadtrippin #hiking #backpacking #trail #travel #photography #myphoto #LandscapePhotography #nature #RVing #Geology #adventure
    Like
    Love
    21
    0 Comments 0 Shares 4511 Views
  • Real Mexican food, Fidel‘s. Near the Del Mar horse racetrack. Many track workers raised their families in this neighborhood.
    Fidel’s and Tony Jacal’s, landmark restaurants dating back decades. Great food and Margaritas!!!????
    Real Mexican food, Fidel‘s. Near the Del Mar horse racetrack. Many track workers raised their families in this neighborhood. Fidel’s and Tony Jacal’s, landmark restaurants dating back decades. Great food and Margaritas!!!????
    Like
    13
    0 Comments 0 Shares 845 Views
  • Visiting #ChimneyRock in the Western #NebraskaPanhandle. AlphaHippie really knows how to catch me at my most photogenic moments, doesn't he? Good thing I stopped caring about perfection long ago. I'm really not the most cooperative subject anyway.

    On our roadtrip to Utah a couple years backs one of our #boondocking sites as we were returning brought us close to this #NationalHistoricSite. I've visited it a few times way back in my life, so I wanted AlphaHippie to see it and to see how much it had eroded since my last visit. I was surprised to see how little erosion there was. The landscape out here in the Western part of Nebraska's Panhandle is quite flat and wide open. Because of this, not only do the winds and rains erode these fragile features, but lightning strikes take their toll as well. The spire itself used to rise into a sharp point, which is fully blunted now.

    What makes this feature a #NationalTreasure is that it was used as a #Landmark for travelers along not only the #MormonTrail, but the #OregonTrail and #CaliforniaTrail(s) as well. There is a plethora of mentions in historical writings and diaries mentioning it. The #HistoricSite itself is quite bland. It's a short drive up a dirt road where it dead ends into a small parking area with an cemetery on one side and the Rock on the other. There is a trail to it, but we didn't get that close. We wanted to get to our campsite before dark, so it was just a quick visit. There is a Museum, but it's a little further West.

    #SoMee #someeofficial #someeoriginals #originalcontent #AweSoMee #RVing #roadtrippin #boondocking #hiking #trail #travel #photography #myphoto #LandscapePhotography #nature #scenery #Nebraska #History #adventure #life #AmericanHistory
    Visiting #ChimneyRock in the Western #NebraskaPanhandle. [AlphaHippie] really knows how to catch me at my most photogenic moments, doesn't he? Good thing I stopped caring about perfection long ago. I'm really not the most cooperative subject anyway. On our roadtrip to Utah a couple years backs one of our #boondocking sites as we were returning brought us close to this #NationalHistoricSite. I've visited it a few times way back in my life, so I wanted [AlphaHippie] to see it and to see how much it had eroded since my last visit. I was surprised to see how little erosion there was. The landscape out here in the Western part of Nebraska's Panhandle is quite flat and wide open. Because of this, not only do the winds and rains erode these fragile features, but lightning strikes take their toll as well. The spire itself used to rise into a sharp point, which is fully blunted now. What makes this feature a #NationalTreasure is that it was used as a #Landmark for travelers along not only the #MormonTrail, but the #OregonTrail and #CaliforniaTrail(s) as well. There is a plethora of mentions in historical writings and diaries mentioning it. The #HistoricSite itself is quite bland. It's a short drive up a dirt road where it dead ends into a small parking area with an cemetery on one side and the Rock on the other. There is a trail to it, but we didn't get that close. We wanted to get to our campsite before dark, so it was just a quick visit. There is a Museum, but it's a little further West. #SoMee #someeofficial #someeoriginals #originalcontent #AweSoMee #RVing #roadtrippin #boondocking #hiking #trail #travel #photography #myphoto #LandscapePhotography #nature #scenery #Nebraska #History #adventure #life #AmericanHistory
    Like
    23
    3 Comments 0 Shares 3926 Views