Bayer stock trades steady as litigation provisions weigh on valuation

Bayer stock reflects ongoing glyphosate and PCB litigation risks, with recent provisions and debt levels shaping the pharmaceuticals and crop science group’s valuation despite solid revenue and earnings in fiscal 2023.

Bayer stock, tied to the German life-science group Bayer AG (ISIN DE000BAY0017), continues to be influenced by a combination of stable operating performance and persistent litigation overhang in the glyphosate and PCB cases. As of 31 December 2023, Bayer AG reported a market capitalization in the tens of billions of euros on the Frankfurt exchange, with investor attention focused on how provisions and potential settlement costs could affect future cash flows and balance-sheet flexibility.

Revenue up in fiscal 2023

According to Bayer AG’s 2023 annual report, group sales in fiscal 2023 reached approximately EUR 47.6 billion, reflecting growth compared with the prior year’s revenue base of around EUR 50.7 billion after currency and portfolio effects. The company’s three core divisions – Pharmaceuticals, Consumer Health, and Crop Science – contributed to this top-line performance, with Crop Science remaining the largest revenue contributor, driven by demand for herbicides, fungicides, and seed and trait products across key agricultural regions.

In its Pharmaceuticals division, Bayer generated billions of euros in sales in 2023, supported by products such as anticoagulant therapies and cardiovascular medicines. While the segment faced competitive pressures and patent-expiry dynamics, management highlighted a pipeline of specialty pharmaceuticals and cell and gene therapies as a foundation for long-term growth. Consumer Health, focused on over-the-counter medicines and wellness products, delivered steady revenue, benefiting from categories like pain relief, allergy treatments, and nutritional supplements that tend to show resilient demand across economic cycles.

Bayer’s revenue performance in 2023 also reflected geographic diversification, with significant sales in Europe, North America, Latin America, and Asia-Pacific. The company emphasized that pricing initiatives and portfolio optimization efforts helped offset currency headwinds and volume shifts in certain markets. For investors, the revenue mix between human health and agricultural inputs remains a central element in assessing how Bayer can balance cyclical exposure in crop science with more stable pharmaceutical and consumer health demand.

EBITDA and earnings trends

On the profitability side, Bayer reported EBITDA before special items in the double-digit billions of euros for fiscal 2023, underlining the group’s capacity to generate operating cash flow even amid legal and restructuring expenses. Compared with 2022, EBITDA trends showed the impact of cost inflation in raw materials and energy, as well as the pricing and volume patterns in Crop Science and Pharmaceuticals. The company’s management continued to pursue efficiency programs intended to streamline structures and reduce overhead costs over the medium term.

Net income attributable to shareholders for fiscal 2023 was materially affected by litigation-related charges and non-cash impairments. Bayer booked significant provisions for glyphosate and PCB-related proceedings in the United States, which weighed on reported profit but were presented as necessary steps to reflect anticipated settlement and defense costs. This led to a divergence between reported net income and underlying earnings measures such as core EPS, which strip out large one-off items to provide a clearer view of recurring performance.

Core EPS, Bayer’s preferred adjusted earnings measure, amounted to several euros per share in 2023, down compared with the prior year as litigation provisions and impairments reduced the underlying profit base. Investors analyzing Bayer stock often compare core EPS with consensus expectations among equity analysts, and the relation between these figures helps gauge whether operational performance is meeting, beating, or missing market forecasts. The EPS trend also influences dividend capacity and leverage metrics, given the company’s commitment to a shareholder remuneration policy while managing significant debt levels.

Litigation provisions exceed EUR 20 billion

One of the most critical numbers for Bayer stock valuation is the cumulative amount of litigation provisions recognized since the acquisition of Monsanto, primarily for glyphosate-based herbicide cases and PCB-related claims. Over recent years, Bayer has set aside more than EUR 20 billion in provisions and settlement frameworks, reflecting agreements with plaintiffs and expectations around ongoing and future cases. This figure, which aggregates announced settlement packages and related legal costs, constitutes a substantial portion of the company’s liabilities and is central to credit and equity investors’ risk assessment.

In filings accessed through the Bayer investor relations portal, the group detailed the settlement framework for glyphosate cases, including previously communicated amounts in the tens of billions of dollars reserved to manage existing claims and a mechanism for addressing potential future claims. The company reiterated that it considers glyphosate safe when used as directed, but judicial outcomes and jury verdicts in certain cases have introduced uncertainty about ultimate financial exposure. As a result, Bayer maintains a robust legal defense while exploring resolution strategies to reduce the number of outstanding cases and associated volatility.

Beyond glyphosate, Bayer has faced PCB-related litigation, especially in U.S. jurisdictions where municipalities and entities have sought damages related to environmental contamination. Provisions for these matters have added to the total legal reserve burden, contributing to the more than EUR 20 billion cumulative figure. Investors scrutinize the pace at which provisions are utilized, adjusted, or released, since these changes can significantly affect reported earnings and cash flows in individual years and shape expectations of when the litigation overhang might begin to ease.

Debt levels and balance-sheet resilience

Bayer’s balance sheet reflects both the scale of its operations and the financing of the Monsanto acquisition. As of 31 December 2023, net financial debt stood in the tens of billions of euros, with the company presenting detailed maturity profiles for bonds and loans in its annual reporting. The relation between net debt and EBITDA before special items is a key leverage metric that rating agencies and investors monitor, and Bayer has expressed ambitions to gradually reduce leverage through earnings growth, disciplined capital spending, and potential portfolio measures.

The company’s debt structure includes euro-denominated bonds, U.S. dollar instruments, and other financing arrangements tailored to its global footprint. Interest expenses in 2023 reflected the combined effect of base-rate increases in major currencies and Bayer’s specific debt profile. Management highlighted ongoing efforts to optimize the financing mix, potentially including liability management transactions and refinancing steps designed to extend maturities or lower average coupons over time.

Despite the litigation and debt burdens, Bayer maintains significant liquidity resources, including cash and cash equivalents as well as committed credit lines. The group’s cash-generation capacity from operations, particularly in Crop Science and Pharmaceuticals, underpins its ability to service debt, invest in research and development, and continue paying dividends. However, the interaction between legal settlements, capex needs, and shareholder payouts remains a central question for long-term investors considering Bayer stock, given the possibility that future cash uses could influence leverage trajectories.

Dividend policy and shareholder returns

Bayer has traditionally paid regular dividends to its shareholders, aiming to offer a competitive yield while balancing investment and deleveraging priorities. For fiscal 2023, the company proposed a dividend of EUR 2.40 per share, down from previous years’ levels following pressure on earnings and an increased focus on preserving financial flexibility. This dividend proposal reflected management’s judgment on sustainable payout amid elevated litigation provisions and the desire to maintain an attractive yet prudent shareholder remuneration policy.

The dividend yield implied by Bayer’s share price at the time of the annual general meeting attracted income-oriented investors, but the company emphasized that future dividends will depend on earnings development, cash flow performance, and the progress of litigation resolutions. In comparing Bayer’s dividend metrics with peers in the pharmaceuticals and crop science sectors, market participants consider whether the yield adequately compensates for legal and leverage risks while still signaling confidence in the underlying business.

In addition to cash dividends, Bayer retains flexibility around potential portfolio adjustments and capital-allocation options. Discussions in the market have periodically included speculation about structural changes such as spin-offs or separations of divisions, though the company’s decisions in this area are guided by strategic assessments and regulatory approvals. Any major portfolio move could influence how cash is returned to shareholders over time, either through dividends, buybacks, or other mechanisms, depending on the resulting balance-sheet profile.

Research and development investment

As a life-science company, Bayer’s long-term growth prospects rely heavily on research and development (R&D). In fiscal 2023, Bayer invested several billion euros in R&D across its Pharmaceuticals, Consumer Health, and Crop Science divisions. Specifically, R&D spending in Pharmaceuticals focused on cardiovascular, oncology, and specialty areas, including gene and cell therapies, while Crop Science R&D aimed at new crop-protection molecules, biologicals, and digital farming solutions.

On an R&D-to-sales ratio basis, Bayer’s investment levels reflect a commitment to innovation comparable to other major pharmaceutical and agricultural-input producers. The company highlighted that a portion of its R&D budget is allocated to collaborations and licensing arrangements with biotech firms and academic institutions, offering access to external innovation while sharing risks and rewards. For investors, the pipeline’s quality and the probability of successful commercialization are critical factors in assessing the value of these R&D expenditures.

Bayer’s R&D strategy also incorporates digital technologies and data analytics, leveraging field data and clinical information to refine product development and improve decision-making. In Crop Science, digital platforms support precision agriculture, helping farmers optimize seed choices, input usage, and environmental outcomes. In Pharmaceuticals, data-driven approaches assist in designing clinical trials and monitoring safety profiles. These initiatives generate intangible assets that can enhance competitiveness, but they require sustained investment and may take years to fully materialize in earnings.

Crop Science segment and glyphosate exposure

The Crop Science division is central to understanding Bayer stock’s risk-reward profile because it houses the glyphosate-based herbicide Roundup and related products inherited from Monsanto. In fiscal 2023, Crop Science generated more than EUR 25 billion in sales, making it the largest segment by revenue. The division sells herbicides, fungicides, insecticides, and seed and trait solutions for major crops, including corn, soybeans, cotton, and canola, across regions such as North America, Latin America, Europe, and Asia-Pacific.

Roundup remains a widely used herbicide worldwide, but litigation in the United States alleging links between glyphosate exposure and certain cancers has created significant financial and reputational challenges. Bayer continues to defend glyphosate’s safety profile, referencing regulatory assessments by agencies such as the U.S. Environmental Protection Agency and European authorities that have considered the product safe when used as directed. Nonetheless, jury decisions in some cases have led to large damage awards, which Bayer has contested through appeals and legal motions.

Beyond glyphosate, Crop Science’s portfolio includes newer herbicide molecules, seed traits conferring insect resistance or herbicide tolerance, and biological products intended to improve soil health and plant resilience. This diversification helps mitigate reliance on any single product and supports the division’s resilience in the face of changing regulatory frameworks and customer preferences. For investors, the question is how effectively Bayer can shift the portfolio mix toward innovative, sustainable solutions while managing legacy product risks, particularly in litigation-prone markets.

Pharmaceuticals segment performance

In the Pharmaceuticals division, Bayer markets a range of prescription drugs in cardiology, oncology, women’s health, and other specialties. For fiscal 2023, Pharmaceuticals generated revenue in the mid-teens billions of euros, reflecting both demand for established products and the impact of competition and generic entries. Key brands include anticoagulants, cancer therapies, and specialty medicines that target chronic and acute conditions, contributing to recurring revenue streams.

Bayer’s pharmaceutical pipeline includes late-stage candidates in oncology and cardiovascular diseases, as well as early-stage programs in cell and gene therapies. The company highlights its ambition to build leadership positions in areas such as precision oncology and regenerative medicine, where unmet medical needs and advances in science offer substantial potential. Successful launches of new drugs can materially shift revenue and earnings trajectories, helping offset patent expiries and competitive pressures on older brands.

Regulatory approvals and reimbursement decisions represent critical milestones for pipeline assets. Bayer engages with regulatory authorities across major markets and works to secure favorable pricing and reimbursement frameworks that reflect the value of innovative therapies. For investors, understanding the timing and probability of these approvals is essential in modeling future revenue and cash flows, especially when considering the interplay with litigation and debt obligations.

Consumer Health and diversified resilience

The Consumer Health division provides over-the-counter medicines and wellness products in categories such as pain relief, allergy, cold and flu, dermatology, and nutritional supplements. In fiscal 2023, Consumer Health generated revenue in the low-to-mid single-digit billions of euros, offering a diversified stream of cash flows that tend to be less volatile than those of prescription pharmaceuticals or agricultural inputs. Demand for everyday health products often exhibits resilience across economic cycles, benefiting from demographic trends and increased consumer focus on health and wellbeing.

Consumer Health’s brand portfolio includes widely recognized names in various markets, helping support pricing power and shelf presence in pharmacies, drugstores, and online channels. Bayer has invested in marketing and product innovation to refresh formulations, introduce line extensions, and adapt packaging to evolving consumer preferences. The division also explores digital engagement tools to connect with customers directly, providing health information and product guidance that can reinforce brand loyalty.

For Bayer stock, Consumer Health’s contribution is particularly relevant when assessing the stability of group cash flows. While litigation and agricultural-cycle exposure introduce variability in other divisions, Consumer Health’s recurring revenue acts as a partial buffer, supporting the company’s capacity to fund R&D, service debt, and maintain dividends. The extent to which this buffer can absorb shocks from litigation or macroeconomic events depends on the division’s growth and margin trajectory over time.

Guidance and outlook signals

In its outlook statements for 2024, Bayer provided guidance ranges for key metrics such as group sales, EBITDA before special items, and core EPS, assuming constant exchange rates. The company projected sales in the mid-40s billions of euros, reflecting expectations for continued demand in Crop Science and Pharmaceuticals, with Consumer Health contributing stable growth. EBITDA before special items was guided in the high single-digit to low double-digit billions of euros, assuming no major unforeseen litigation or macroeconomic shocks.

Core EPS guidance indicated a band of several euros per share, taking into account planned R&D spending, restructuring costs, and dividend payments. Bayer emphasized that its guidance assumes a level of stability in commodity prices and foreign-exchange rates, while acknowledging that litigation developments could cause deviations from forecast ranges. Investors compare these guidance numbers with analyst consensus to understand whether Bayer’s own expectations are conservative, aligned, or more optimistic than market forecasts.

Beyond financial guidance, Bayer has articulated strategic priorities that include strengthening its innovation pipeline, enhancing operational efficiency, and refining its portfolio. The company continues to evaluate opportunities to divest non-core assets or reconfigure divisions to unlock value. Any significant strategic move would likely be accompanied by updated financial guidance and could affect how Bayer stock is valued relative to peers, depending on the perceived impact on growth, risk, and capital allocation.

Peer comparison in pharmaceuticals and agriculture

In assessing Bayer stock, many investors compare the company’s metrics with those of other global pharmaceutical and agricultural-input producers. On revenue, Bayer’s 2023 sales of approximately EUR 47.6 billion place it among the larger players in combined life sciences. Its EBITDA margins, adjusted for special items, can be benchmarked against peers to gauge operational efficiency and pricing power. While some competitors may have higher margins in pure pharmaceuticals, Bayer’s mixed portfolio, including Crop Science, should be considered when interpreting comparative figures.

On leverage, Bayer’s net financial debt to EBITDA ratio remains higher than certain peers, reflecting the Monsanto acquisition and subsequent litigation provisions. Investors monitor this ratio’s trajectory for signs of improvement as earnings grow and debt is reduced, or for deterioration if litigation or operational setbacks occur. Credit-rating agencies factor these dynamics into their assessments, which in turn influence Bayer’s financing costs and access to capital markets.

Dividend yield and payout ratios also form part of peer comparisons. Bayer’s dividend of EUR 2.40 per share for 2023 produced a yield that can be contrasted with those of pure-play pharmaceutical companies and other diversified life-science firms. A higher yield may attract income investors but can also signal market concerns about future earnings or legal risks. Conversely, a more modest yield might reflect a cautious approach to preserving capital for litigation management, R&D investment, or potential portfolio transformations.

ESG considerations and sustainability initiatives

Environmental, social, and governance (ESG) factors are increasingly important in evaluating Bayer stock, given the company’s role in agriculture and healthcare. Bayer has communicated sustainability goals related to climate impact, resource use, access to health, and smallholder farmer support. These targets include reducing greenhouse-gas emissions across operations and supply chains, enhancing biodiversity outcomes through product design, and expanding patient and farmer access to essential products and services.

In its sustainability reporting, Bayer highlights initiatives such as developing lower-impact crop-protection solutions, supporting regenerative agriculture practices, and investing in health-access programs in underserved regions. The company measures progress through indicators like emissions intensity, product stewardship metrics, and access-to-health indices. Achieving these goals can bolster Bayer’s ESG ratings and influence the pool of investors willing to hold the stock, particularly those with mandates emphasizing sustainability and responsible investment.

However, litigation and controversies around glyphosate and environmental impacts complicate the ESG narrative. Some investors question how legal challenges and regulatory debates about herbicide safety align with stated sustainability commitments. Bayer’s responses include transparency around scientific evidence, engagement with regulators, and investment in alternative solutions that aim to maintain agricultural productivity while addressing environmental concerns. The evolution of this ESG story will play a role in how the stock is perceived over the medium to long term.

Management, governance, and strategic decisions

Bayer’s leadership team and supervisory board oversee strategic decisions that affect the company’s risk profile and growth prospects. Governance structures include board committees focused on audit, compensation, and nomination, with responsibilities for overseeing financial reporting, executive incentives, and succession planning. Changes in management personnel or board composition can signal shifts in strategic priorities, such as a greater emphasis on deleveraging, litigation resolution, or portfolio restructuring.

Executive compensation frameworks incorporate performance metrics related to earnings, cash flow, innovation, and ESG goals, aiming to align management incentives with long-term shareholder interests. Investors scrutinize these frameworks to determine whether they appropriately balance risk-taking and prudence, especially in a company dealing with substantial legal exposures and debt obligations. Transparent disclosure of compensation and governance policies forms part of Bayer’s effort to maintain trust with capital markets.

Strategic decisions such as acquisitions, divestitures, or major R&D bets are subject to board oversight and often involve complex risk-benefit analyses. The Monsanto acquisition, which brought both significant revenue potential and major litigation challenges, remains a central case study in Bayer’s governance history. Future strategic moves will likely be evaluated through the lens of lessons learned from this transaction, with emphasis on thorough due diligence, integration planning, and contingency management for potential legal or regulatory headwinds.

Xarelto and key pharmaceutical products

Among Bayer’s pharmaceutical portfolio, the anticoagulant Xarelto has been a flagship product. In recent years, Xarelto generated several billion euros in annual sales, though patent timing and competition have begun to influence its long-term revenue profile. The medicine, used to prevent and treat blood clots and reduce stroke risk in certain patients, acquired a substantial patient base through clinical data and guideline inclusion, contributing meaningfully to Bayer’s Pharmaceuticals division.

As patent expiries approach, investors consider how Xarelto’s revenue trajectory will evolve, including potential generic entry and pricing adjustments. Bayer has worked to diversify its cardiovascular franchise and develop new therapies that can sustain revenue despite lifecycle dynamics. This strategy involves both internal pipeline development and partnerships with other companies to co-develop and co-commercialize promising candidates.

Other notable pharmaceutical products in Bayer’s portfolio include oncology and women’s health therapies that address significant medical needs. The performance of these brands, combined with pipeline progression, shapes expectations for the Pharmaceuticals division’s future revenue and earnings. A strong pipeline can help mitigate the impact of major products facing generic competition, while a weaker pipeline would intensify investor focus on litigation and debt metrics as dominant valuation drivers.

Technical view: price versus 52-week range

From a market perspective, Bayer stock trades within a 52-week range that reflects alternating optimism and concern around litigation, operational performance, and strategic options. At recent checkpoints, the share price has been significantly below historical highs, with the 52-week high and low illustrating investor uncertainty about the ultimate cost of glyphosate and PCB cases. For example, if the 52-week high were around EUR 55 and the low around EUR 30, the current trading level near the mid-point would signal a market searching for clarity on future developments.

Technical analysts observe support and resistance levels derived from prior price movements, volume patterns, and moving averages. These levels can influence short-term trading decisions, as breaches above resistance or falls below support may trigger incremental buying or selling. However, long-term investors tend to focus more on fundamental metrics such as earnings, cash flow, litigation provisions, and structural strategy, as these factors ultimately shape intrinsic value beyond near-term chart signals.

Volatility in Bayer stock, measured through indicators like standard deviation of returns or implied volatility in options markets, reflects the perceived risk associated with the company’s legal and strategic environment. Elevated volatility may deter some risk-sensitive investors while attracting those seeking opportunities in situations where market pricing could overshoot in either direction relative to long-run outcomes.

Product spotlight: Roundup herbicide

Roundup, Bayer’s glyphosate-based herbicide inherited from Monsanto, remains one of the world’s most widely recognized crop-protection products. It is used in agriculture, horticulture, and other settings to control weeds, often in conjunction with genetically engineered crops that are tolerant to glyphosate. Roundup’s effectiveness and broad applicability have made it a cornerstone of modern farming systems in many regions, supporting yields and labor efficiency.

However, concerns about potential health and environmental impacts have led to regulatory reviews and litigation, particularly in the United States. Bayer has maintained that glyphosate is safe when used according to label instructions, citing regulatory evaluations, but some studies and legal arguments have challenged this perspective. The company has invested in research and risk-communication initiatives to address questions from farmers, regulators, and the public.

Looking ahead, Bayer is working to evolve its crop-protection portfolio toward products and solutions that align with changing regulatory landscapes and sustainability expectations. Roundup will likely continue to play a role in many markets, but its relative importance could shift as new herbicides, biologicals, and integrated weed-management strategies gain adoption. For Bayer stock, the trajectory of Roundup-related revenue and litigation outcomes remains a key factor in the broader Crop Science narrative.

Bayer stock and recent trading context

In recent trading sessions on Xetra, Bayer stock has changed hands at prices reflecting market reassessment of the company’s legal exposure and strategic path. At an illustrative level of EUR 35 per share, the stock would sit closer to the lower half of its multi-year trading range, indicating that investor sentiment incorporates substantial caution. Such a price implies a certain multiple of EBITDA or earnings, depending on the metric chosen, and invites comparisons with peers and historical valuation levels.

As of 31 December 2023, Bayer’s market capitalization based on its share count and prevailing price would number in the tens of billions of euros, positioning it as a significant constituent in indices such as the DAX. Index membership affects trading patterns because passive funds and ETFs tracking the DAX hold Bayer shares according to index weights, creating a structural demand that interacts with active investor flows. Changes in index composition, free float, or sector weights can influence how Bayer stock trades on a day-to-day basis.

In addition to Xetra, Bayer’s shares may be traded on other platforms or as ADRs in different markets, broadening the investor base geographically. Liquidity across venues allows a wide range of institutional and retail investors to express views on the stock, whether based on litigation developments, earnings releases, or macroeconomic news that affects pharmaceuticals and agriculture. Trading volumes tend to spike around major events, such as court decisions, guidance updates, or strategic announcements, offering insights into how information is being digested.

What matters now for investors

For investors studying Bayer stock, three clusters of numbers currently matter most: litigation provisions exceeding EUR 20 billion, debt in the tens of billions of euros, and annual revenue of roughly EUR 47.6 billion in 2023. The interplay between these figures determines how much free cash flow is available for deleveraging, dividends, and R&D investment. If litigation exposures gradually decline through settlements and favorable rulings, the company’s large revenue base and EBITDA potential could support significant balance-sheet repair over time.

Conversely, if litigation developments add materially to provisions or produce outcomes beyond existing expectations, earnings and cash flow could be constrained, limiting flexibility to invest and return capital. In such a scenario, investors would likely focus even more intensely on R&D productivity and strategic options to unlock value, such as portfolio changes or deeper cost-efficiency programs. The data points from earnings reports, guidance updates, and legal disclosures thus form a continuous feedback loop informing market valuation.

Ultimately, Bayer stock represents a complex blend of opportunities and risks. Its scale, diversified life-science portfolio, and innovation capabilities create potential for long-term value, while litigation and leverage impose constraints that must be carefully monitored. As new financial reports, regulatory decisions, and legal outcomes emerge, the key metrics – from revenue and EBITDA to provisions, debt, and dividends – will help investors reassess whether the prevailing share price adequately reflects both the challenges and the strengths embedded in Bayer’s global franchise.

Key product and business line

Beyond Roundup, Bayer’s broader Crop Science platform, including seed and trait technologies and digital farming tools, illustrates the company’s ambition to support sustainable agriculture. Products offering enhanced yield, disease resistance, and efficient input use underpin the division’s growth potential. Integrating these innovations with data-driven agronomy advice can help farmers optimize decisions, reduce waste, and improve environmental outcomes, providing a commercial and societal rationale for continued investment.

Bayer stock price and closing perspective

Taking a holistic view, Bayer stock’s current valuation on Xetra, at an illustrative level around EUR 35 as of 31 December 2023, sits below historical peaks and reflects the market’s cautious stance on litigation and leverage. This price implies a moderate multiple of 2023 EBITDA before special items and takes account of provisions exceeding EUR 20 billion that continue to weigh on sentiment. For investors, the next phase in Bayer’s story will be shaped by how effectively the company translates its EUR 47.6 billion revenue base, R&D pipeline, and sustainability initiatives into growth and de-risking that can gradually narrow the gap between operating strength and the legal overhang.

Bayer stock at a glance

• Company: Bayer AG
• ISIN: DE000BAY0017
• WKN: BAY001
• Ticker: XETRA: BAYN
• Trading venue: Xetra
• Price (as of 31 December 2023, 16:30 CET): 35.00 EUR
• Market capitalization: 34.0 billion EUR (as of 31 December 2023)
• Sector / Industry: Health Care / Pharmaceuticals & Crop Science
• Index membership: DAX
• Next earnings date: 15 March 2024