SAN SEBASTIAN (Reuters) -Bayer Chief Executive Bill Anderson said the company is making “remarkable progress” in overcoming longstanding challenges, including a weak drug development pipeline, after an internal management overhaul.
Speaking at a press event in San Sebastian, Spain, Anderson said Bayer had fundamentally redesigned itself and was on track to overcome years of crisis, though a “long way to go” was still ahead.
At the briefing, drug unit head Stefan Oelrich said sales of cancer drug Nubeqa and kidney treatment Kerendia were strong, and heart drug Beyonttra, also known as acoramidis, was now seen as generating more than $1 billion in its peak sales year.
Overall, the sales loss from the expiry of patents for established stroke prevention pill Xarelto and for an older version of eye drug Eylea should be offset by newer products, he added.
Bayer said separately it has started the third phase of human testing of an experimental stem cell therapy for Parkinson’s disease, to support longer-term growth ambitions.
CEO Anderson reaffirmed Bayer’s goal to make meaningful progress on resolving approximately 61,000 outstanding glyphosate cases by the end of 2026, where plaintiffs claim a cancer-causing effect of the weedkiller.
Anderson also said U.S. tariffs on imports were not a major topic for the group because of its global manufacturing footprint.
(Reporting by Patricia Weiss, writing by Kirsti KnolleEditing by Ludwig Burger)
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