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☆ Sanofi CEO under pressure to woo investors after spending shock
▼ + stars: | 2023-12-05 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

[1/2] Paul Hudson, chief executive officer of Sanofi, speaks during the annual results news conference at the company's headquarters in Paris, France, February 4, 2022. The market's shock reaction, compounded by a lack of details of the spending push, overshadowed Sanofi's plan to list its consumer unit, in line with an industry trend. David Song, a portfolio manager and investment partner at Tema ETF, said: "The narrative of Sanofi has been a margin expansion, earnings-driven story for a lot of investors." "Shouldn't investors give credit to managements who care about long-term shareholder value creation?," said Song. ($1 = 0.9206 euros)Reporting by Ludwig Burger; Editing by Josephine Mason and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Hudson, Sanofi, Benoit Tessier, Hudson, Dan Lyons, Janus Henderson, Markus Manns, David Song, Fabian Wenner, Julius Baer, Union's Manns, Janus Henderson's Lyons, Johnson, Song, Ludwig Burger, Josephine Mason, Emelia Organizations: REUTERS, Reuters, Janus Henderson Investors, Germany's Union Investment, Tema, Thomson Locations: Paris, France, British, Hudson, Denver, Swiss, Tema

☆ Novo Nordisk shares rise as Wegovy shows heart benefits beyond weight loss
▼ + stars: | 2023-11-13 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

LONDON, Nov 13 (Reuters) - Novo Nordisk (NOVOb.CO) shares rose 3% on Monday as the market reacted to data the drugmaker presented over the weekend showing that the heart protective benefits of its popular obesity drug Wegovy are not solely due to weight loss. Wegovy is part of a class of drugs that mimic a gut hormone that helps regulate blood sugar and appetite. U.S. companies across sectors such as food and beverage makers have addressed investor concerns on the potential impact to their businesses from the growing popularity of the promising weight-loss drugs. Novo was first to market with its highly effective weight loss drugs. At the close of markets on Friday, Novo's shares were up 47.5% this year.

Persons: Markus Manns, Jefferies, Wegovy, Novo, Eli Lilly's, Lilly, Novo's, Maggie Fick, Boleslaw Lasocki, Medha Singh, Louise Heavens Organizations: Novo Nordisk, Novo, Union Investment, Reuters, Pfizer, Jefferies, U.S, Thomson Locations: United, Germany, Novo, U.S, Bengaluru

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. "Supply of Wegovy is the most important thing for specialist healthcare investors covering Novo right now," said Barclays analyst Emily Field. Some analysts said a firm date would ease concerns that Novo's supply constraints could allow rival Eli Lilly (LLY.N) to get ahead, when it launches its Mounjaro weight-loss drug. Eli Lilly, the world's most valuable drug company ahead of Novo, has said it expects U.S. approval for the drug, currently licensed for diabetes, to be used for weight loss by the end of the year. Novo is spending billions to increase Wegovy output and hiring more contract manufacturers to fill the pens.

Persons: Victoria Klesty, Wegovy, Novo, Emily Field, Eli Lilly, Markus Manns, Manns, Catalent, Jefferies, Jacob Gronholt, Pedersen, Maggie Fick, Josephine Mason, Jane Merriman Organizations: REUTERS, Novo Nordisk, Wegovy, Barclays, U.S . Food, Drug Administration, Union Investment, Thomson Locations: Oslo, Norway, Victoria, COPENHAGEN, United States, Danish, Germany, Novo, U.S, Brussels, London

A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. Spokespeople for Catalent and Elliott declined to comment. The U.S.-based contract drugmaker is also Danish company Novo Nordisk's (NOVOb.CO) main manufacturing partner for its popular weight-loss drug Wegovy. The volatility at Catalent could increase scrutiny on the relationship between Novo and its partner. Reuters reported last week that a second Catalent factory will begin filling Wegovy injection pens for Novo as part of an expanded supply agreement.

Persons: Yves Herman Acquire, Elliott, drugmaker, Markus Manns, Catalent, Elliott isn't, Keith Meister's, Scott Ferguson's, Mauricio Gutierrez, Svea Herbst, Bayliss, Maggie Fick, Amanda Cooper, Shri Navaratnam, Bernadette Baum, Catherine Evans Organizations: REUTERS, Elliott Investment Management, Catalent, Novo, Reuters, Union Investment, AstraZeneca, Johnson, Moderna, eBay, Inc, Deutsche Bank, Management, Capital Management, NRG, Svea, Thomson Locations: Brussels, Belgium, U.S, Danish, Novo, United States, Germany, Boston, London

SummaryCompanies Q2 sales and earnings beat estimatesReiterates full-year guidanceNo revenue from COVID vaccine in Q2Shares up 3.1% in early tradeCompany is largest drugmaker in ChinaLONDON, July 28 (Reuters) - AstraZeneca (AZN.L) on Friday delivered better-than-expected profits and sales in the second quarter as a strong performance of its blockbuster cancer drugs helped offset the loss of COVID-19 vaccine sales. The Anglo-Swedish drugmaker posted an adjusted profit of $2.15 per share, up 25% and exceeding the $1.98 per share expected in company-compiled consensus estimates. Total revenue in the quarter was $11.4 billion, up 6% and beating company-compiled analyst estimates of $10.97 billion. Excluding COVID medicines, sales in China grew by 7% at constant exchange rates in the quarter, the fourth consecutive quarter of growth on that basis. AstraZeneca is the largest drugmaker in China, which accounted for 13% of last year's revenue.

Persons: Swedish drugmaker, Pascal Soriot, Markus Manns, Alexion, drugmaker, Maggie Fick, Radhika Anilkumar, Nivedita Bhattacharjee, Josephine Mason Organizations: AstraZeneca, UK's, Pfizer, Moderna, U.S, Union Investment, Thomson Locations: China LONDON, Swedish, China, London, Bengaluru

GSK reckons the spin-off has allowed the company to sharpen its focus on vaccines and infectious diseases and with $7 billion generated by the Haleon spin-off, it can fund deals to bolster a lacklustre drug pipeline. The company also reported an adjusted profit of 38.8 pence per share for the quarter, on sales of about 7.18 billion pounds ($9.26 billion). Analysts were expecting a profit of 34.7 pence per share on sales of about 6.77 billion pounds, according to company-compiled consensus estimates. Sales of Shingrix, the company's top-selling drug, generated 880 million pounds, beating analyst estimates of 872 million pounds. Sales of HIV treatments generated 1.58 billion in the quarter, ahead of the company-compiled consensus of about 1.5 billion pounds in the quarter.

Persons: Zantac, Emma Walmsley, Walmsley, Markus Manns, Dani Saurymper, Maggie Fick, Radhika Anilkumar, Janane Venkatraman, Savio D'Souza, Josephine Mason Organizations: GSK, British, Analysts, U.S, Union Investment, Pacific Asset Management, Thomson Locations: London, Bengaluru

July 25 (Reuters) - Further deterioration in demand for glyphosate-based weed killers led Bayer (BAYGn.DE) to cut its full-year earnings outlook and announce a 2.5 billion euro ($2.8 billion) write-down on glyphosate-related assets. That was lower than a previous 2023 outlook of 12.5 billion euros, or slightly higher. Free cash flow would come in at zero, down from a previous prediction of 3 billion euros, the company said. "Based on the anticipated market development, in particular with respect to the glyphosate business, Bayer also expects to record a goodwill impairment of approximately 2.5 billion euros," it said. That would result in a second-quarter net loss of 2 billion euros.

Persons: Bayer, Bill Anderson, Roche, Markus Manns, Anderson, Hurricane Ida, Werner Baumann, Thomas Escritt, Ludwig Burger, Jonathan Oatis, Susan Fenton, Kirsten Donovan Organizations: Union Investment, Barclays, FMC, BASF, Bayer, Thomson

☆ Bayer's new CEO has a full in-tray as investors push for change
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +5 min

February 9 - By Ludwig Burger and Patricia WeissFRANKFURT (Reuters) - Bayer's incoming CEO is inheriting a full in-tray from his predecessor: Thousands of lawsuits claiming its weedkiller causes cancer, an underwhelming drug development pipeline and disgruntled investors looking for major change. "The most important task for Bill Anderson is to regain investors' trust," said Markus Manns, a portfolio manager at Germany's Union Investment, a top 20 shareholder. Bayer's shares lag those of its global rivals, having fallen about 40% - knocking about 30 billion euros off its market valuation - since it bought Monsanto in 2018 for about $63 billion. Baumann's early exit has stirred debate about what the 56-year-old Anderson can do to restore investor trust and boost Bayer's shares. A stand-alone pharmaceuticals business, with 18.3 billion euros in 2021 sales, could also become a takeover target.

☆ Bayer picks outsider Anderson as CEO after investor pressure
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

News of the CEO change sent the German drugs-to-pesticides giant's shares to their highest level in nearly eight months. Shares in Bayer closed up 6% on the news of the new CEO, reaching the top of Frankfurt's blue-chip index and hitting their highest level since June last year. "Bill Anderson's mission is clear: enable Bayer to realize its full potential and create sustainable value for our shareholders, farmers, patients, consumers, employees, and all stakeholders of the company," Winkeljohann added. Sources told Reuters earlier this week that activist investor Jeff Ubben had contacted fellow investors to drum up support for big changes at Bayer, including the swift replacement of Baumann. Reporting by Patricia Weiss, Kirsti Knolle and Christoph Steitz; Editing by Tom Sims and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

FRANKFURT, Jan 31 (Reuters) - A top-10 shareholder of Bayer (BAYGn.DE) on Tuesday called on the group's supervisory board head to replace chief executive Werner Baumann quickly, adding to investor pressure to restore trust and revive the German drugmaker's sagging share price. But shareholders have also cited a lack of market trust in its top management as a growing burden. "When it comes to CEO succession we say: the sooner the better," Markus Manns, a portfolio manager at Union Investment, one of Bayer's 10 biggest shareholders, told Reuters. Union Investment's Manns cautioned that the non-executive supervisory board may need time to find a qualified candidate. A Bayer spokesperson said the company was always open to a constructive dialogue with shareholders and declined to comment further.

☆ Bayer investor criticizes company chair for lack of initiative
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Jan 22 (Reuters) - The Bayer (BAYGn.DE) investor Union Investment criticized Bayer's chair for a lack of engagement, such as exploring a spin-off of the company's consumer health division, according to an interview in WirtschaftsWoche. Bayer is facing demands from activist investor Bluebell Capital Partners to break up, with a sale of the company's consumer health unit and, at a later stage, for a separation of Bayer's pharmaceuticals and agriculture businesses. Bayer Chair Norbert Winkeljohann "does seek dialogue with investors, but he should have initiated more," Markus Manns, portfolio manager at Union Investment, told WirtschaftsWoche. "It would definitely have been a matter for the supervisory board to help initiate a spin-off of Consumer Health," Manns added. "But generally speaking we are always open to a constructive dialogue with our stakeholders," the spokesperson said.

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