The start-up launched last year with Phase III-ready upacicalcet, which has nearly completed two pivotal trials in secondary hyperparathyroidism and for which it has exclusive rights outside of Asia.

As sales of the Japanese drugmaker’s non-hormonal treatment for menopausal symptoms Veozah finally take off, the German major has filed its potential competitor, elinzanetant, with the US Food and Drug Administration.

The company is struggling to grow revenue, and the biggest of its four key late-stage assets had a setback, but novel technologies are fueling an R&D strategy shift towards high potential programs.

Astellas’s fezolinetant is already on the market but Bayer is confident its non-hormonal menopause drug elinzanetant will be able to catch up on the back of demonstrating significant reductions in the frequency and severity of hot flashes in a couple of Phase III trials.