ARTICLE | Company News

Bayer pharmaceuticals, other news

September 22, 2014 7:00 AM UTC

Bayer said it will focus on its life science businesses and spin out its material sciences division, Bayer MaterialScience, into a separate publicly listed company in the next 12-18 months. The pharma said the major reason for the split is to give Bayer MaterialScience direct access to capital, noting that "this access can no longer be adequately ensured within the Bayer Group due to the substantial investment needs of the Life Science businesses." Bayer MaterialScience focuses on polymers and had 2013 sales of EUR11.5 billion ($15.8 billion).

Bayer Healthcare and Bayer CropScience -- the pharma's life science businesses -- had 2013 sales of EUR18.6 billion ($25.6 billion) and EUR8.4 billion ($11.6 billion), respectively. Drugs marketed by Bayer include ophthalmic drug Eylea aflibercept, to which the pharma has ex-U.S. rights from Regeneron Pharmaceuticals Inc. (NASDAQ:REGN, Tarrytown, N.Y.); pulmonary hypertension drug Adempas riociguat, which is partnered with Merck & Co. Inc. (NYSE:MRK, Whitehouse Station, N.J.); and castration-resistant prostate cancer drug Xofigo radium-223 dichloride, which Bayer gained through its acquisition of Algeta ASA earlier this year. Eylea is a human fusion protein that binds all forms of VEGF-A and placental growth factor ( PGF; PlGF), Adempas is an oral soluble guanylate cyclase (sGC) stimulator and Xofigo is a radiopharmaceutical based on the alpha particle emitter radium-223 (see BioCentury, Dec. 23, 2013). ...