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Bayer remains robust

Bayer posts strong second-quarter results despite inclement economic environment

German pharmaceutical firm Bayer has posted a second-quarter sales increase of 8.3 per cent to €4.04bn from €3.73bn in the same reporting period last year.

The company reported a strong performance at its pharmaceuticals segment, with sales up 9.1 per cent to €2.63bn for the quarter. The biggest gains were recorded in its general medicine business unit, speciality medicine, diagnostic imaging and women's healthcare.

"The second quarter as a whole fully met our expectations. We are adhering to our ambitious earnings target for the full year 2009," said Bayer chairman, Werner Wenning.

"The clear increase in sales and earnings at HealthCare was particularly pleasing. It should be noted that both the pharmaceuticals and consumer health segments contributed to this positive performance," he continued.

Cancer therapy Nexavar for the treatment of advanced renal cell carcinoma was the fastest-growing brand with a currency-adjusted increase of 29.5 per cent in the period.

Bayer also reported gains for multiple sclerosis drug Betaferon (up 13.3 per cent), the family of oral contraceptives YAZ (4.1 per cent) and Aspirin Cardio (14.6 per cent). Sales of the antibiotic Cipro rose 11.1 per cent, thanks to a contract signed with US government in 2008.

Sales at the company's consumer health division rose 6.9 per cent to €1.41bn in the quarter, as a result of the strong performance of its One-a-Day line of multivitamin products (up 22.5 per cent) and its Bepanthen range of skincare products.

30th July 2009

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