Pharma giant's €3.6B loss overshadowed by Kerendia's trial success and share surge

A major pharmaceutical company has reported mixed financial results for 2025, with a €3.6 billion net loss and nearly €30 billion in net debt. Despite these challenges, its shares rose by 4.71% to €40.25 after positive updates on its drug pipeline, including progress for Kerendia in treating kidney disease.

Legal developments in the U.S. over Roundup lawsuits remain a key focus for investors, with a Supreme Court ruling on warning labels expected in mid-2026.

The company's pharmaceutical division saw a boost from Kerendia (finerenone), a drug already approved in the EU, Japan, and Canada. Regulators cleared it based on Phase 3 trials showing cardiovascular and renal benefits in diabetic kidney disease. By 2025, the drug was marketed in over 60 countries, with ongoing submissions in Australia, Brazil, and other emerging markets.

Kerendia recently met its primary goal in a trial for non-diabetic chronic kidney disease patients. The company now plans to seek expanded U.S. FDA approval, which could broaden its market reach significantly.

Meanwhile, legal pressures persist. The U.S. Supreme Court will hear arguments on Roundup warning labels on April 1, 2026, with a decision due in mid-June. Investors are tracking these proceedings closely, as they could impact the company's financial and operational outlook.

The Annual General Meeting, scheduled for April 1, 2026, will include a vote on the proposed dividend. This follows a year of financial strain, marked by a €3.6 billion loss and high debt levels.

The company's share price climbed on positive drug trial results, despite ongoing legal and financial challenges. Kerendia's potential expanded approval could open new revenue streams, while the Supreme Court's upcoming Roundup decision may shape future liabilities. Both developments will influence investor confidence in the months ahead.