Q2 pharmaceuticals sales and earnings boost Bayer in a difficult environment

29-Jul-2009

In spite of positive sales in its pharmaceuticals and consumer health divisions, the economic downturn had a negative impact on Bayer's second quarter results. Group sales fell by 6% to Euro 8bn (Q2 2008: €8.5bn), while EBITDA dropped by 7% to €1.8bn (Q2 2008: €1.9bn).

In spite of positive sales in its pharmaceuticals and consumer health divisions, the economic downturn had a negative impact on Bayer's second quarter results. Group sales fell by 6% to Euro 8bn (Q2 2008: â"šÂ¬8.5bn), while EBITDA dropped by 7% to â"šÂ¬1.8bn (Q2 2008: â"šÂ¬1.9bn).

The HealthCare division reported strong gains in sales and earnings. Second-quarter sales rose by 8% to â"šÂ¬4bn (Q2 2008: â"šÂ¬3.7bn).

Bayer chairman Werner Wenning praised a "robust performance" in a difficult environment.

"The clear increase in sales and earnings at HealthCare was particularly pleasing," he said.

Sales in the Pharmaceuticals segment rose by 9% to â"šÂ¬2.6bn. The strongest gains were reported by the General Medicine business unit, followed by Specialty Medicine, Diagnostic Imaging and Women's Healthcare.

The cancer drug Nexavar was the fastest-growing brand with a currency-adjusted increase of 29.5%. Also successful were the multiple sclerosis drug Betaferon/Betaseron (+13%), the YAZ family of oral contraceptives (+4%) and Aspirin Cardio (+15%). The antibiotic Cipro/Ciprobay (+11%) benefited from a contract signed with the US government in 2008.

"The second quarter as a whole fully met our expectations," added Wenning. "We are adhering to our ambitious earnings targets for the full year."

Sign up for your free email newsletter

Research and development expenses are planned to rise to approximately â"šÂ¬2.9bn. Bayer also intends further to reduce net financial debt towards â"šÂ¬10bn in 2009.

Companies