Bayer has reported full-year 2025 group revenue of EUR 45.6 billion (USD 51.7 billion), a 2.2% decline. The company's pharmaceuticals division generated EUR 17.8 billion (USD 20.2 billion), a 1.7% decrease. Key growth drivers included the prostate cancer drug Nubeqa (darolutamide), with sales rising 56.6% to EUR 2.4 billion, and the cardio-renal drug Kerendia (finerenone), which grew 79% to EUR 829 million. Bayer's ophthalmology franchise, led by Eylea (aflibercept), faced pricing and generic competition pressure, with the new 8mg formulation now accounting for 26% of Eylea sales.

R&D investment for the year totalled EUR 5.8 billion (USD 6.7 billion). Bayer's pipeline delivered several milestones, including the launch of the menopause therapy Lynkuet (elinzanetant) and the ATTR cardiomyopathy drug Beyonttra (acoramidis) in Europe and Japan. Positive Phase III results were announced for the anticoagulant asundexian for secondary stroke prevention. The company also became the first to advance both a cell and a gene therapy for Parkinson's disease. Bayer forecasts 2026 group sales in the range of EUR 44 billion to EUR 46 billion.

PharmCube's NextBiopharm® database shows that, unlike other Big Pharma companies, Bayer's portfolio consists mainly of launched products, raising concerns about the firm's ability to replace therapies that complete their life cycle. Click here to request a free trial for NextBiopharm®.