Bayer Shares Surge as Partner Forecasts Sales Growth for Prostate-Cancer Drug

Shares in Bayer jumped 6% after Finnish pharmaceutical company Orion predicted strong growth for darolutamide, a prescription prostate-cancer medication on which the two companies partner.

Bayer stock gained 5.8%, or 2.26 euros, to 41.2 euros in early afternoon European trading Wednesday. Shares in Orion also leapt on the announcement, gaining 12%. The Helsinki-listed company is the biggest riser in the Europe-wide Stoxx 600 index.