CEO Bill Anderson said that "the track record of the industry and late-stage acquisitions is really poor,” and Bayer was pursuing more preclinical and early-stage pacts instead.

The German company’s two top sellers are marketed by partners in the US, but Bayer will pocket all US sales from its four newest products, at a time when pressures are mounting at home and abroad.

The German major has pinned its early-stage research colors to the masts of oncology, cardiovascular, neurology, rare diseases and immunology, representing a shift away from rather than an abandonment of women’s health.

“We're looking at opportunities almost on a weekly basis,” Bayer’s pharma chief Stefan Oelrich told Scrip as the German major posted a solid set of financials for the fourth quarter.