Crop Science PerformanceBayer underperformed significantly due to weaker-than-expected agrochemicals performance and questions on long-term pharma growth.
Generic CompetitionThe generic headwind at Xarelto intensified, leading to forecasted sales losses of €1bn in 2025 and another €800m in 2026.
Litigation UncertaintyOngoing litigation related to glyphosate is creating uncertainty for investors, with 67,000 cases still unsettled.