Jefferies analysts have warned that Bayer is facing significant challenges on multiple fronts, which are hastening the need for the German pharmaceutical-and-agricultural group to consider strategic options. The halt of a late-stage clinical trial for experimental cardiovascular drug asundexian has pushed financial risk to the edge, while declining share prices have increased sensitivity to rising provisions and potential trial losses in a legal battle over its Roundup weedkiller. This suggests that Bayer might need to sell assets and scrap dividends in order to buy time, but this may not be enough to enable large-scale investments needed in its pharma business. As a result, Jefferies has cut its recommendation on the stock from buy to hold. Despite this, shares traded 0.3% higher following Monday’s heavy losses. (adria.calatayud@dowjones.com) Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8