Bayer Counts the Cost of Litigation as a Supreme Court Verdict Dangles Over a Corporate Reshuffle
15.06.2026 - 14:31:13 | boerse-global.de
The clock is ticking for Bayer. With net debt swelling to €32.5 billion and a net cash outflow of €2.002 billion from settlement payments in the first quarter alone, the Leverkusen-based group is shouldering a heavy financial burden as it heads into a defining moment for its glyphosate exposure. The U.S. Supreme Court is expected to rule in July on the “Durnell” case, a decision that could render up to 80% of the roughly 65,000 outstanding Roundup lawsuits obsolete. For the equity, currently trading at €36.33, the outcome will carry far more weight than any clinical or operational milestone this year.
Bayer has not been idle on the corporate front. On June 8, it appointed four new leaders to its Consumer Health division, including Analia de la Fuente as global Chief Data Officer and Trevor Thrun to run the U.S. business, the unit’s largest market. A week later, Dr. Jost Reinhard was named President of the Radiology business within the Pharma division, effective August 1. He succeeds Nelson Ambrogio and will report directly to pharmaceutical chief Stefan Oelrich. The management overhaul is explicitly tied to the company’s “Road to Billions” strategy, which aims to accelerate growth in consumer health and specialty pharmaceuticals.
Pharma operations are indeed showing momentum. The division delivered €4.2 billion in revenue during the first quarter, while group-wide sales rose 4.1% on a currency-adjusted basis to €13.4 billion. EBITDA before special items advanced 9.0%. The standout story remains Nubeqa, the prostate cancer drug that is expected to generate peak annual sales of more than €5 billion — eclipsing even Xarelto’s best years. Oelrich has framed 2026 as “the last year with Xarelto headwinds,” projecting a return to highly competitive growth from 2027 onward.
Should investors sell immediately? Or is it worth buying Bayer?
Meanwhile, Bayer’s pipeline added a new arrow. Phase III data from the FIND-CKD trial showed that finerenone, sold as Kerendia, significantly slows the progression of chronic kidney disease in patients without type 2 diabetes. Until now, the drug’s label was largely limited to diabetic patients. The expanded indication could open a much broader addressable market, though the trajectory depends on the regulatory pathway ahead. In parallel, Bayer opened its second “China Center of Innovation and Partnership” in Shandong province on June 3, partnering with Jewim Pharmaceutical and the local food and drug control institute to fast-track research and market access in one of the world’s fastest-growing consumer health markets.
Technical indicators paint a picture of caution. The stock is hovering just above its 200-day moving average — €36.03 versus the current €36.33 — but the 50-day average sits at €38.10, roughly 5% higher. Over the past year, the equity has gained 33%, yet it remains down 4.5% year-to-date. Berenberg recently nudged its price target to €40.50 while maintaining a “Hold” rating, citing the unresolved legal risk. Goldman Sachs cut its stake to 4.83% from 5.40%, a further sign of institutional wariness.
Bayer will report second-quarter results on August 4, by which time the Supreme Court ruling from Washington will likely have already rewritten the narrative. Until then, every leadership change, every clinical success, and every innovation hub opening is secondary to the question of whether the company can finally shed its legal albatross.
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Bayer Stock: New Analysis - 15 June
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