Thu, May 12, 3:37 PM
- Monsanto (MON +8.5%) remains sharply higher though off highs of the day, following headlines that Bayer (OTCPK:BAYRY -4.1%) and BASF (OTCQX:BASFY -1.7%) are considering a possible acquisition of the company.
- Financial Times reports that MON is interested in forming some sort of combination with the agrochemical businesses of either of the two companies but opposes any deal that would turn it into a division of a German company.
- Piper Jaffray analysts say the interest in acquiring MON is mere speculation, seeing a potential joint venture as a more likely outcome as "we believe Monsanto remains committed to building a chemistry business."
- J.P. Morgan believes Bayer would need to raise equity given the size of the deal, and thinks Bayer investors likely would be only lukewarm around the potential deal given limited accretion and investor desire for Bayer to strength its pharma pipeline following recent setbacks.
- Analysts say a MON takeover likely would draw intense scrutiny from global regulators already confronting an unprecedented wave of consolidation in the crop chemicals industry involving the likes of Dow Chemical (DOW +0.8%), DuPont (DD +0.2%) and Syngenta (SYT +0.4%).
- Now read Seed war sparked: Bayer and BASF to battle over Monsanto?
Thu, May 12, 8:13 AM
- Monsanto (NYSE:MON) now +17.7% premarket as Bloomberg reports that Bayer (OTCPK:BAYZF, OTCPK:BAYRY) is exploring a $40B takeover bid for the company.
- Bayer has held preliminary discussions internally and with advisers about how to finance a deal, including potential asset sales, according to the report.
- MON already was moving higher after StreetInsider reported interest in the company from BASF (OTCQX:BASFY).
- A deal would create the world’s largest supplier of seeds and farm chemicals, and boost Bayer and MON amid a wave of consolidation in the industry after Dow Chemical and DuPont announced last year plans to combine operations in a $130B deal while ChemChina agreed in February to buy Syngenta for $43B.
Apr. 30, 2015, 4:55 PM
- Syngenta (NYSE:SYT) +12.6% AH after Bloomberg reports it has been approached by Monsanto (NYSE:MON) about a possible takeover.
- Combined with SYT, MON would become the largest player in the world for both seeds and crop chemicals and a formidable competitor to Bayer (OTCPK:BAYZF, OTCPK:BAYRY), BASF (OTCQX:BASFY, OTCPK:BFFAF) and Dow Chemical (NYSE:DOW).
- Reports last year had said the companies held preliminary talks with advisers about a combination before SYT management decided against negotiations.
Feb. 10, 2014, 8:16 AM
- Regeneron's (REGN +3.15%) Eylea treatment improved vision and maintained that improvement over two years in a Phase III trial of patients with diabetic macular edema (DME).
- DME is a leading cause of blindness in younger and middle-aged adults; Eylea could potentially treat over 6M sufferers globally.
- Regeneron and partner Bayer (BAYRY) are waiting for U.S. and EU approval of Eylea to treat DME; the therapy has already been authorized for other indications, including wet age-related macular edema. (PR)
Feb. 4, 2014, 2:33 PM
- Novartis (NVS -0.7%) reportedly is drawing interest for its human vaccines unit as talks to swap its animal health business for assets from Merck (MRK +2.6%) slow down.
- While the vaccines unit was initially on the table with animal health as part of the possible trade for MRK’s over-the-counter drugs business, NVS may now sell the vaccines unit separately in a deal that could be valued at ~$1B.
- NVS and MRK are still talking but agreeing on valuation is proving difficult, so NVS has informally talked to Eli Lilly (LLY -0.1%) and Bayer (BAYRY, BAYZF) about the animal health business, according to the report.
Oct. 31, 2013, 3:47 PM
- Bayer's (BAYRY) Q3 EBITDA comes in at €1.984B (+7.6% Y/Y), well ahead of the €1.87B analysts expected. Net income rises 42% Y/Y to €733M.
- Revenue for the period was €9.64B (flat Y/Y), missing estimates by around €200M.
- Growth in the pharmaceuticals business grows 3.1%, driven by Xarelto, Eylea, Stivarga, and Xofigo.
- Full year outlook: Sales of €40B (versus previous guidance of €40-41B), EBITDA growth in the "mid-single-digit" range, and core earnings growth in the "high single-digits." (PR)
Aug. 5, 2013, 8:52 AM
- Compugen (CGEN +58%) rockets higher after signing a deal with Bayer HealthCare (BAYZF.PK) for two projects to develop antibody-based immunotherapies for cancer
- Under the deal, Bayer will get worldwide commercialization rights for any treatments that are produced.
- Compugen will receive $10M upfront and over $530M in milestones, as well as mid-high single-digit royalties on sales of any products.
- Antibody-based immunotherapies are designed to stimulate the body's immune cells to fight cancer. (PR)
Jul. 1, 2013, 8:16 AM
Onyx (ONXX) shares rocket 51% to $130.98 after the company says that it's rejected a $120/share offer from Amgen (AMGN +0.6%) and that it's seeking buyers after receiving inquiries. There's no shortage of speculation about who could acquire Onyx, with Bayer (BAYZF.PK), Celgene (CELG), Novartis (NVS), Bristol-Myers (BMY), AstraZeneca (AZN), Eli Lilly (LLY), Gilead (GILD) and Pfizer (PFE) all mentioned. However, Forbes' Matthew Herper notes that potential blockbuster blood-cancer drug Kyprolis has only received accelerated FDA approval, which can be revoked. Big Pharma may have wanted to await further trial results later this year amid concerns about Kyprolis' safety.| Jul. 1, 2013, 8:16 AM | 2 Comments
Nov. 20, 2012, 8:02 AM
Bayer (BAYZF.PK) decides to avoid getting enmeshed in a bidding war for Schiff Nutrition (SHF -5.3%), saying it won't increase its $1.2B proposal for the U.S. company after Reckitt Benckiser (RBGPF.PK) offered $1.4B. "Entering a competitive bidding process in response to the November 18 Proposal (Reckitt's bid) would result in a price outside Bayer's set financial criteria," the German drug maker says.| Nov. 20, 2012, 8:02 AM