According to analyst Jefferies, Bayer is facing challenges on multiple fronts that are accelerating the need to consider strategic options. A halt to a late-stage clinical trial of experimental cardiovascular drug asundexian brings financial risk to the brink, while falling stock prices increase sensitivity to growing reserves and potential trial losses in a legal battle over its Roundup weedkiller. This suggests that the German pharmaceutical and agriculture group may have to sell assets and cut dividends to buy time. However, that may not be enough to enable the large investments needed in its pharmaceutical business, Jefferies says. Jefferies has cut its recommendation on the stock from buy to hold. Shares are trading 0.3% higher after heavy losses on Monday. (adria.calataiud@dovjones.com) Copyright ©2023 Dov Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8.