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    Home > Medical News > Latest Medical News > After the sky-high price merger, more than 100,000 lawsuits, Bayer spent tens of billions of dollars out of trouble!

    After the sky-high price merger, more than 100,000 lawsuits, Bayer spent tens of billions of dollars out of trouble!

    • Last Update: 2020-05-30
    • Source: Internet
    • Author: User
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    MEDICAL NETWORK, May 28 (Xinhua) -- Bayer has reached an oral agreement with about 125,000 U.Splaintiffs to end all legal action against Monsanto's herbicide Roundup, Bloomberg reported on May 25Bayer is understood to have set aside $10 billion for the agreement, of which $8 billion will be used to resolve current cases and $2 billion to deal with future litigationbefore Bayer, Teva had settled opioid-related lawsuits in U.Sstates for $23 billionFurther down, in 2007, Mercado agreed to pay $4.85 billion to settle thousands of product liability lawsuits involving arthritis painkiller Vioxx, which triggeredand otherThe Bayer-Monsanto herbicide incident could become the second-largest settlement in pharmaceutical industry historyThe settlement means that the two-year lawsuit that has plagued Bayer's century-old drug maker may see an end in sight, with an average of $64,000 in settlements for each plaintiff under the agreementBayer will also pay more than $10 billion for its choice of mergers and acquisitionsAs of April this year, Bayer had handled a total of 52,500 lawsuitsin fact, Bayer's acquisition of Monsanto was rated by FiercePharma as the most failed deal since 2010It is reported that before the start of the transaction, Monsanto mainly genetically modified crop seeds and pesticidebusiness, in the United States has a strong market positionAfter Bayer confirmed the acquisition, Monsanto raised its price several times, and the transaction process was bumpy, taking nearly two years to complete the merger, with a total transaction value of $63 billionacquisition, sales in Bayer's agronomics division more than doubled to $5.16 billion in the fourth quarter of 2018, making it one of the company's core businessesAt this point, however, Monsanto herbicide Roundup was found to be carcinogenic, and tens of thousands of plaintiffs sued himdespite Bayer's repeated promises of safety and attempts to escape from this sprawling litigation swamp, the plaintiffs did not buy itBayer has lost several u.Scourt cases so far, totalling millions of dollarsand the adverse effects of the Monsanto incident hit confidence hard, sending Bayer's share stake down 40 percent from its May 2018 high and wiping more than $40 billion in total market valueIf the decline is not reversed, Bayer could fall out of the money it spent on buying Monsanto within two years, Bayer Group's total revenue in 2019 was 43.5 billion euros ($48.11 billion), up 3.5 percent year-on-year (at constant exchange rates); In other words, dealing with Monsanto herbicide litigation will cost Bayer all of its net income since 2018In addition, its total debt will be $44.3bn by the end of 2019 - meaning Bayer will no longer have enough money to complete any big deals in the coming yearsFor Bayer, 2019 is a stressful year, and 2020 will be even worseWerner Baumann, its chief executive, even lost more than half of his vote of confidence at its shareholder meeting in February - the first time a German company has appeared in modern timesin an effort to escape the financial crisis, Bayer announced a series of sell-offs at the end of 2018, the largest of which was a $7.6billion divestiture of its animalbusiness and a merger with Elanco, a subsidiary of Eli Lilly, which was shelved by U.Santitrust scrutinyCoupled with the impact of the global outbreak, the division of the business will suffer at least a six-month to one-year delay, it can be described as a leak of overnight rainBayer's pharmaceutical business, revenues from the anticoagulant, Xarelto, rose 12.6 percent last year to 4.13 billion euros (at constant exchange rates), while sales of Eylea, a macular degeneration drug in partnership with Regenerative Yuan and Japan's Ginseng Pharmaceuticals, rose 12.6 percent year-on-year, generating 2.49 billion euros in revenue for Bayerin the anti-
    sector, Bayer's first-line liver cancer drug Nexavar sales fell 2.5 percent to 706 million euros in 2019, while second-line liver cancer drug Stivarga's sales rose about 30 percent in 2019, thanks to the expansion of the Chinese market, which grew 25 percent year-on-year In addition, Bayer is relatively short of strong growth in the market Bayer remains one of the world's top 10 most-paid drugmakers in 2019, but without incident, Bayer may not be in the top 10 next year' list - the 11th-ranked BMS will make it into the top 10 with a super merger with The New Base The challenges facing the veteran German continue.
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