Bayer’s CEO Bill Anderson told investors the company is preparing to re-enter pharma M&A, saying it will be “careful, but also aggressive.” The statement comes as Bayer moves to refresh its pipeline and compete in areas where large incumbents are actively acquiring assets. The comment positions Bayer to consider new drugmaking opportunities after several years of restraint. It also sets expectations for deal appetite that could reshape targets in fields where Bayer has historically sought partners or acquired capabilities. The announcement was made during a first-quarter earnings call; details on specific targets or timing were not provided in the report.