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BAYER AG

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Bayer : to Advance Ionis Pharma's Clotting Medicine

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10/09/2019 | 07:24am EDT

By Chris Wack

Ionis Pharmaceuticals said Wednesday it has been notified by its partner, Bayer AG, about its decision to advance Ionis-FXI-L(Rx) following positive clinical results.

Ionis's Ionis-FXI-L(Rx) is an antisense medicine being developed to treat patients with clotting disorders.

Ionis entered into an exclusive license agreement with Bayer in May 2015 to develop and commercialize Ionis' programs for the treatment of clotting disorders.

Ionis said that under the agreement, it has generated more than $185 million to date, including a $10 million milestone payment Ionis earned with Bayer's continuation decision. Ionis said it is eligible to receive additional milestone payments as the medicine advances toward the market, as well as tiered royalties in the low to high twenty percent range on gross margins.

Bayer will now assume all development, regulatory and commercialization activities and costs.

Write to Chris Wack at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG 0.63% 66.73 Delayed Quote.9.33%
IONIS PHARMACEUTICALS, INC. -6.25% 57.62 Delayed Quote.13.69%
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Financials (EUR)
Sales 2019 46 036 M
EBIT 2019 7 933 M
Net income 2019 3 095 M
Debt 2019 37 372 M
Yield 2019 4,30%
P/E ratio 2019 21,4x
P/E ratio 2020 13,6x
EV / Sales2019 2,15x
EV / Sales2020 2,03x
Capitalization 61 745 M
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 79,26  €
Last Close Price 66,22  €
Spread / Highest target 85,7%
Spread / Average Target 19,7%
Spread / Lowest Target -41,5%
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Managers
NameTitle
Werner Baumann Chairman-Management Board
Werner Wenning Chairman-Supervisory Board
Wolfgang U. Nickl Chief Financial Officer
Katharina Jansen Head-Science & Research
Hartmut Klusik Head-Human Resources, Technology & Sustainability
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