An array of events has significantly impacted Bayer, leading to an overall negative sentiment in the market. Bayer saw a sharp decline in share value, underpinned by multiple factors including a court order to pay $2.25 billion in damages related to Roundup lawsuits and the termination of asundexian trial. The pharmaceutical giant experienced the worst day ever as the stock plunged to a new 18-year low. The continual losses, alongside a dividend cut to tackle burgeoning debt, led to a fall of 70% over six years.
While some stock gains were noticed after Monsanto Appeal win and better than expected Q1 results, the overall market view remained bleak with the CEO's turnaround plans being poorly received. The company was also faced with the drawbacks of its drug trial failures. Although its existence in Kahn Brothers' portfolio signaled some confidence, job cuts and the potential for a management revamp further dampened outlook. Despite this, Bayer has resisted a breakup, indicating an emphasis on internal restructuring.
BAYER Stocks News Analytics from Tue, 26 Sep 2023 18:25:03 GMT to Fri, 31 May 2024 15:18:17 GMT - Rating -9 - Innovation 0 - Information 6 - Rumor -8