DIRS.INFO The most relevant business & tech news

Companies Bayer AG FollowNEW YORK, March 9 (Reuters) - Bayer AG (BAYGn.DE) plans to spend $1 billion on drug research and development in the U.S. this year as it works to double its sales in the country by the end of the decade, Bayer's top U.S. pharmaceutical executive told Reuters. "It's time for us to double down on the U.S.," Guth said, noting that Bayer plans to sell the drugs it is developing itself in the country, rather than partner with U.S. companies like it has in the past. Bayer is looking to build up its portfolio of new drugs as it hopes to improve share prices, which have been hit by concerns over litigation surrounding weedkiller Roundup and a lack of trust in the company's leadership. Guth said he expects peak sales of 12 billion euros from cancer drug Nubeqa, kidney medication Kerendia, and two of its top pipeline assets, experimental stroke drug asundexian and experimental women's health drug elinzanetant. Reporting by Michael Erman; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ David Roche explains how China's shifting growth model will 'disappoint' global markets
▼ + stars: | 2023-03-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDavid Roche explains how China's shifting growth model will 'disappoint' global marketsDavid Roche, president of Independent Strategy, discusses the changing dynamics for the Chinese and global economy.

☆ How China's shifting growth picture could hit global markets
▼ + stars: | 2023-03-07 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

A shopping mall in Qingzhou, Shandong province, broadcasts the opening ceremony of China's National People's Congress on Sunday, March 5, 2023. Future Publishing | Future Publishing | Getty ImagesChina's economy will be forced to recalibrate because of a "fractured" global order, and the new drivers of growth will "disappoint" global markets, according to David Roche, president of Independent Strategy. President Xi Jinping and other officials took aim at the West for constraining China's growth prospects, as relations between Beijing and Washington continue to deteriorate. Veteran investment strategist Roche told CNBC's "Squawk Box Europe" on Tuesday that "things have changed" permanently with regards to China's role in the global economy, as Beijing will be forced to look inward to achieve its growth ambitions. watch nowRoche also noted that the "hegemony of the U.S. is now fractured" in the global economic order, with Russia and China detaching from Western democracies.

☆ U.S. Importers Seize on New Shipping Rules to Fight Late Fees
▼ + stars: | 2023-03-03 | by ( Paul Berger | ) www.wsj.com time to read: +6 min

U.S. importers are fighting millions of dollars in fees imposed by the world’s largest ocean carriers with the help of a new federal law and a newly emboldened regulator. He said his company, Lion Energy LLC, which imports about 800 containers a year, felt it had little power to dispute the charges. Now, Mr. Frey and hundreds of shippers like him are turning to rules set out in the Ocean Shipping Reform Act, which passed Congress in June. The new shipping law endorsed an FMC rule published in 2020. But shippers are still able to challenge fees that predate the law under earlier FMC rules.

March 1 (Reuters) - Roche's Genentech Inc (ROGING.UL) sued Biogen MA Inc on Tuesday in San Francisco federal court, claiming Biogen owes additional patent royalties from worldwide sales of its blockbuster multiple-sclerosis and Crohn's disease drug Tysabri. Genentech's lawsuit said Biogen owes royalties for all the Tysabri that was produced using Genentech's patents before the patents expired, even if it was sold later. According to Genentech, Biogen has refused to pay royalties on any Tysabri sales since the patents expired more than four years ago. It said Biogen owes royalties for "most or all" of the Tysabri sold in "2019 and beyond," which it said was made with the patented technology before the patents expired. The case is Genentech Inc v. Biogen MA Inc, U.S. District Court for the Northern District of California, No.

☆ Bayer braces for falling profits in challenge for new CEO
▼ + stars: | 2023-02-28 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

Bayer said in a statement that earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, would likely be between 12.5 billion euros and 13 billion euros ($13.2 billion - $13.8 billion) this year, excluding the effect of currency swings. Bayer said this month it would replace its CEO early, recruiting former Roche (ROG.S) executive Bill Anderson, amid demands by some investors that Bayer should simplify its diversified structure and split into separate groups. A $6.4 billion provision remained on the balance sheet for glyphosate payouts, the larger of the two legal burdens. So Bayer should really not be on the buy list of many investors at the moment," said Molnar. Bayer saw herbicide sales jump 44% in 2022 after hurricane Ida damaged rival producers and constrained Chinese suppliers failed to plug the gap.

☆ Bayer sees lower 2023 operating profit on cost inflation
▼ + stars: | 2023-02-28 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 28 (Reuters) - Agriculture and healthcare company Bayer (BAYGn.DE) said operating earnings would likely decline in 2023, hurt by higher costs and the reversal of last year's price boost for its glyphosate-based weedkillers. In a statement on Tuesday, Bayer said earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, would likely be between 12.5 billion euros ($13.23 billion) and 13 billion euros this year, excluding the effect of currency swings. In his last presentation of the company's quarterly results, Chief Executive Werner Baumann said the company is active in the right areas of business. For 2023, "the company anticipates lower prices for agricultural herbicides as well as for some of its established pharmaceutical products," Bayer said, also citing high inflation-driven cost increases. ($1 = 0.9447 euros)Additional reporting by Patricia Weiss Editing by Friederike Heine, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ These are Wall Street's favorite chip stocks, including one expected to rally more than 30%
▼ + stars: | 2023-02-20 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

It might be time to look for buying opportunities in a beaten-down part of the tech sector: semiconductor stocks. Chip stocks have been under pressure from supply chain disruptions sparked by the Covid-19 pandemic. This, along with the recent push toward artificial intelligence technology, has boosted chip stocks in early 2023. The average analyst price target on the stock implies the most upside of any name on the list at 33%, FactSet data shows. He also hiked his price target on Analog Devices to $230 per share from $215.

☆ BofA says these global stocks can weather a choppy market — and are 'inexpensive'
▼ + stars: | 2023-02-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

As sentiment turns a little bearish, BofA screened for cheaper global stocks that proved resilient during the financial crisis of 2008. Europe has been one of the brightest spots in the global stock market this year, with Wall Street calling the region a better bet than the U.S. right now . BofA screen BofA screened for European stocks that met the following criteria: Inexpensive compared with the past 15 years' average 12-month forward price to earnings ratio. According to FactSet, analysts covering the stock gave it average potential upside of around 23%, and 62% rated it a buy. According to FactSet, analysts covering the stock gave it average potential upside of around 26%, and 78% rated it a buy.

☆ G1 Therapeutics to scrap cancer drug trial, shares plunge
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +1 min

The drug, trilaciclib or Cosela, was unlikely to meet the main goals of extending overall survival or the time that a patient lives without the disease worsening, G1 Therapeutics said. Cosela is the company's lead therapy and the only drug being tested in clinical trials. However, the drug achieved its goal in the trial of the drug to reduce the occurrence of Neutropenia - an abnormally low count of a type of white blood cell - during induction and reduce its duration. The company is studying the drug in other indications such as breast and bladder cancer. The study was testing a combination of the drug administered along with chemotherapy and Roche's (ROG.S) therapy Avastin in patients with a type of colorectal cancer.

☆ 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.

☆ German union opposes Bayer split after CEO departure - taz newspaper
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 9 (Reuters) - Germany's IGBCE union opposes any splitting-up of Bayer after the departure of its chief executive and warned that the company should not bow to pressure from hedge fund activism, taz newspaper reported on Thursday. "From the point of view of the employees, Bayer with its three pillars is perfectly positioned for the challenges of the future," said IGBCE executive board member Francesco Grioli, who is also a member of the supervisory board at Bayer. The company currently has three divisions - pharmaceuticals, consumer health and crop science. "You can only manage the transformation of the industry with a corporate policy based on risk diversification and sustainability - not on hedge fund activism," Grioli told taz. Bayer announced on Wednesday that it was replacing its CEO early, recruiting the former head of Roche's pharmaceuticals business, as investor criticism over the company’s lacklustre share price grew.

☆ Bayer Hires Former Roche Executive to Succeed CEO Werner Baumann
▼ + stars: | 2023-02-08 | by ( William Boston | Patrick Thomas | ) www.wsj.com time to read: 1 min

Bill Anderson is set to join Bayer’s management board in April and become CEO in June. BERLIN— Bayer AG said it is replacing the company’s embattled chief executive, Werner Baumann , with Bill Anderson, a 56-year-old American pharmaceuticals executive. Mr. Baumann, 60 years old, has served as CEO since 2016 after previously serving as the company’s finance chief. His current term was due to expire in April 2024. He led the company’s acquisition of Monsanto for $63 billion in 2018, which left Bayer mired in litigation and saddled with about $43 billion in debt.

☆ 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.

☆ Factbox: Bayer's new CEO: long-time Roche, Genentech executive, Bill Anderson
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 8 (Reuters) - Bayer (BAYGn.DE) bowed to investor pressure on Wednesday and named Bill Anderson, most recently head of Roche's (ROG.S) pharmaceuticals business, to take over from Werner Baumann as its CEO in June. Here are some key facts about the career about the 56-year-old American who will run the nearly 160-year-old German drugmaker:He is a chemical engineer by education and has worked for Genentech and its parent Roche since 2006CAREER:1989: started his career at Ethyl Corp, a U.S.-based fuel additives company, with postings in Belgium and the Netherlands1995: joined Raychem Corp., a U.S. technology and electronics firm1997-2006: worked at Biogen (BIIB.O) in the United States, UK and Ireland; roles included running its neurology unit, its largest business2006: joined Genentech as senior vice president, immunology and ophthalmology2010: became svp BioOncology2013: left Genentech to become global product strategy head/chief marketing officer at Genentech's parent company, Roche (ROG.S)2016: returned to Genentech as head of North American operations2017: appointed chief executive officer at Genentech2019-2023: CEO of Roche PharmaceuticalSources: Roche and BayerCompiled by Josephine Mason. Editing by Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ Cowen names this little-known defense systems stock a top pick, says it can rally 40%
▼ + stars: | 2023-02-06 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Aerospace and defense company Moog is Cowen's top small and medium-cap pick for 2023. Analyst Cai von Rumohr reiterated the stock's outperform rating, calling it a transition story with 40% upside from Friday's close. "Given Moog's strong position in attractive niche markets, we think this strategy makes lots of sense. However, von Rumohr believes that much of the company's risks have already abated. "The integrated satellite bus program entails risk; but risk is abating as Moog is 80% through software development.

☆ Overall we achieved good results, delivered on our numbers and targets: Roche CEO
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOverall we achieved good results, delivered on our numbers and targets: Roche CEOSeverin Schwan discusses the company’s full-year earnings and outlook for the business in the year ahead.

☆ Roche flags 2023 earnings decline on slump in Covid products
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: +2 min

A view of the Roche towers, designed by architects Herzog and de Meuron, the headquarters of the Swiss pharma giant Roche, in Basel. Roche warned of a decline in 2023 earnings, as revenue growth from new drugs including haemophilia treatment Hemlibra and multiple sclerosis drug Ocrevus would not make up for a steep demand drop for Covid treatments and diagnostic testing. Sales and core earnings per share were expected to decrease at a "low single-digit" percentage this year, the Swiss drugmaker said in a statement on Thursday. Last year, group revenue edged 1% higher to 63.3 billion Swiss francs ($69.78 billion), the company reported, beating market expectations of 63.2 billion francs, while core operating profit gained 1% to 22.2 billion Swiss francs, just shy of the average analyst estimate of 22.4 billion francs. The decline equates to 5 billion Swiss francs, in his estimate.

☆ Roche flags 2023 earnings decline on slump in COVID products
▼ + stars: | 2023-02-02 | by ( Ludwig Burger | ) www.reuters.com time to read: +1 min

Last year, group revenue edged 1% higher to 63.3 billion Swiss francs ($69.78 billion), the company reported, beating market expectations of 63.2 billion francs, while core operating profit gained 1% to 22.2 billion Swiss francs, just shy of the average analyst estimate of 22.4 billion francs. The onus to reinvigorate the pipeline will be on chief executive officer-designate Thomas Schinecker, who is Roche's head of diagnostics, and due to be promoted to group CEO in March. In the wake of Schinecker's appointment, the head of Roche's pharmaceuticals division, Bill Anderson, decided in December to leave after 16 years with the Swiss drugmaker. Roche said on Thursday that Teresa Graham, currently Head of Global Product Strategy for Roche Pharmaceuticals, would succeed Anderson. ($1 = 0.9071 Swiss francs)Reporting by Ludwig Burger; Editing by Paul Carrel and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

LONDON, Feb 1 (Reuters) - GSK (GSK.L) chief executive Emma Walmsley on Wednesday made replenishing the drugmaker's pipeline of vaccines and therapies her number-one priority. But analysts say there is not enough in the medicine cabinet to keep the momentum going even beyond the next few years. Meanwhile, analysts say the market for Shingrix will eventually become saturated, further limiting the company's growth prospects. GSK shares lagR&D SPENDGSK's spending on R&D has long lagged behind its peers, something activist investor Elliott highlighted in a 2021 letter pressuring the company to make sweeping changes. Lucy Coutts, investment director at wealth management firm JM Finn, which holds GSK shares, there is hope the company will eventually deliver a streamlined and specialist portfolio of blockbuster drugs.

☆ Roche launches new test to detect fast spreading Omicron sub-variant
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

ZURICH, Jan 26 (Reuters) - Roche (ROG.S) has launched a new PCR test to detect a fast-spreading sub-variant of the Omicron variant of Coronavirus, the Swiss drugmaker said on Thursday. The new test specifically targets the XBB.1.5 Omicron variant and will help researchers closely track the virus’s lineage and provide insights into the epidemiology and impact it has on public health, the company added. The XBB.1.5 variant is prevalent in the United States and is quickly spreading to other countries, Roche said. "Being able to differentiate emerging variants and understand their similarities and mutations provides a basis for experts to make predictions about their spread and respond with appropriate treatment strategies," Roche said. Reporting by John Revill; Editing by Noele IllienOur Standards: The Thomson Reuters Trust Principles.

Increasingly, they said conversations in C-suites and with financiers had turned to the risks that climate change presented to businesses. Climate activist Greta Thunberg made the journey up the Swiss Alps to call on the global energy industry and its financiers to end all fossil fuel investments. Suni Harford, the president of UBS's asset management arm who leads the bank's sustainability efforts, said her conversations at Davos suggested no let up in focus on climate, despite the shorter-term pressures. "Clients are becoming ever more informed on the energy transition, demand for sustainable and green products has held up well, and clients are increasingly looking to measure the impact of their portfolios." "Put forward credible and transparent transition plans on how to achieve net zero – and submit those plans before the end of this year," Guterres said in a speech.

☆ Here's where to look for the next developments in the fight against Alzheimer's disease
▼ + stars: | 2023-01-17 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +10 min

The Centers for Disease Control and Prevention estimates 5.8 million Americans were living with the disease in 2020 . BIIB 6M mountain Biogen's stock is trading well above its lows Leqembi treats Alzheimer's disease by targeting amyloid-beta plaques in the brain. Attention shifts to Eli Lilly Shares of other Alzheimer's drug developers have often mirrored Biogen's moves. Small drug developers Smaller Alzheimer's drug developers have also been boosted by research developments. Still in an early stage of its research, Prothena has traded as a proxy for developments in Alzheimer's treatment.

☆ Novartis' CEO is charging ahead in cutting tens of thousands of workers to transform the $220 billion pharma giant
▼ + stars: | 2023-01-16 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +3 min

Novartis is laying off thousands of workers, CEO Vasant Narasimhan told Insider. Through layoffs and spinoffs, the Swiss giant expects to trim its headcount by about 30% by 2024. SAN FRANCISCO — Thousands of layoffs are "happening now," Vasant Narasimhan, the CEO of Novartis, told Insider, as he hopes the $220 billion Swiss giant is entering the final steps of becoming a smaller, more-focused drug company. The Swiss giant had about 125,000 full-time employees at the time, and it has about 108,000 workers today. The restructuring will save Novartis about $1.5 billion annually, Narasimhan said during his Monday presentation at the JPMorgan conference.

☆ EMA seeks to issue guidance on liver damage from Novartis' gene therapy
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

Jan 13 (Reuters) - The European Medicines Agency (EMA) said on Friday it plans to issue advice for physicians using Novartis AG's (NOVN.S) Zolgensma, calling on them to monitor patients for any liver injury after treatment. The statement follows two deaths due to liver failure after treatment with the gene therapy against spinal muscular atrophy, reported by Novartis in August. Spinal muscular atrophy is a group of rare genetic disorders which affect the nerve cells and cause muscle wasting and weakness. The advice for healthcare professionals has yet to be approved by further expert panels at EMA, which typically takes a few weeks. In Europe, however, such letters had been the subject of discussions with EMA, but Novartis would soon be cleared to send them in EU member states, it added.

Search resuls for: "Roche"

25 mentions found