The newest pharma giant to put down stakes in the heart of the Boston area’s drug-discovery cluster is a German conglomerate best known for its ubiquitous aspirin. But Bayer AG hopes to soon be known for backing entrepreneurial companies seeking to cure diseases.
Bayer, which last week formally opened a life science center outside of Cambridge’s Kendall Square, trumpeted its arrival last year with a pair of outsize early-stage investments in biotech startups that are using cutting-edge technology.
Bayer can also improve its innovation reputation by increasing emphasis on timely monitoring and action when patient safety issues arrive. Why is Bayer still selling its Essure sterilization coils in the U.S., given they are discontinuing sale and use in Canada, the UK, Finland and The Netherlands? The FDA’s black box warning added last year is not enough. Read the FDA Hearing transcript for more information.