Bayer
Pays vs peer median
×1.34
+34% premium
Sample
20
high confidence
Last refreshed
2026-04-13
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×1.21 | 15 |
| womensHealth | ×1.50 | 3 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| approved | ×1.50 | 7 |
| phase 2 | ×1.19 | 5 |
| phase 1 | ×1.50 | 3 |
| phase 3 | ×1.30 | 3 |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2025 | FLT3-301 | Sana Biotechnology | ALL | discovery | $56M | $585M |
| 2025 | Anti-CD47-501 | Apollomics | Breast (TNBC) | phase_3 | — | $350M |
| 2025 | Nectin-4-tinib | IGM Biosciences | SCLC | phase_3 | $182M | $1.3B |
| 2025 | RET-101 | Vor Biopharma | MDS | preclinical | $70M | $1.0B |
| 2025 | Anti-MDM2 | Janux Therapeutics | Breast (HER2+) | approved | $1.8B | $9.5B |
| 2025 | TIGIT-101 | Akeso | Cholangiocarcinoma | phase_3 | — | $393M |
| 2025 | TIM-3-001 | Y-mAbs Therapeutics | SCLC | discovery | $43M | $647M |
| 2025 | Anti-CD33-001 | Mirati Therapeutics | Breast (HR+) | preclinical | $55M | $583M |
| 2025 | BRAF V600E-001 | Junshi Biosciences | Gastric | phase_1 | $126M | $792M |
| 2025 | OX40-101 | Hengrui Medicine | Breast (HR+) | preclinical | $40M | $454M |
| 2024 | HER2-301 | Deciphera Pharmaceuticals | Bladder | phase_1 | $134M | $1.1B |
| 2024 | CDK4/6-001 | Zymeworks | RCC | discovery | $65M | $780M |
| 2024 | Aficamten (Japan) | Cytokinetics | Hypertrophic cardiomyopathy (HCM) | phase_3 | $53M | $665M |
| 2024 | Elinzanetant | Bayer | Menopausal vasomotor symptoms, insomnia | phase_3 | — | — |
| 2024 | Anti-B7-H3-201 | Immunogen | Breast (HR+) | discovery | $39M | $536M |
How this is computed
For each Bayer deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 20 disclosed deal premiums vs. peer medians. Raw premium 1.344, clamped to [0.7, 1.5].