Bayer To Settle Monsanto Litigation, Remains Prepared To Invest For Growth
The health care and crop science conglomerate will pay up to $10.9bn to resolve most Roundup claims, but still has capital to do bolt-on deals like last year’s BlueRock cell therapy buy.
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Q4 sales in OTC allergy/cold segment, which includes the Claritin allergy and Afrin nasal congestion lines, grew 5% adjusted while dermatology sector with Bepanthen and Canesten skin care brands grew 3.8%. Adjusted for the impact of foreign exchange and portfolio changes, thouhg, consumer unit’s full-year sales were flat.
Bayer is relinquishing its Animal Health Unit to Elanco as the German major turns its focus more towards life sciences. The money received should help it pay down some Monsanto debt, but there are antitrust concerns.
Bayer will acquire the 40.8% of BlueRock that it doesn't already own as the firm's largest investor via a $225m series A round in 2016. A clinical trial for BlueRock's Parkinson's disease candidate is expected to begin later this year.