FRANKFURT (Reuters) – Bayer’s strategic review will take into account a potentially tougher outlook for cash flow, its chief executive said on Tuesday, after abandoning a trial of the blood thinner Asundexian.
Bayer halted a large late-stage clinical trial of a new anticoagulant last Sunday due to a lack of efficacy, calling into question the pharmaceutical group’s most promising development project and worsening its litigation and of debts.
“Anything that has a negative impact on future cash flow makes it a little bit tighter,” Chairman Bill Anderson said on a conference call with analysts Tuesday.
“The impact of these recent events does not change our strategic options. It just means that some of these conditions are a little more stringent,” he added.
Bill Anderson also said he was considering a spinoff of the division that makes over-the-counter health products and crop protection products for agriculture.
(Reporting by Ludwig Burger and Patricia Weiss, by Stéphanie Hamel, edited by Kate Entringer)
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