Bayer increases 2012 forecast following second-quarter sales

Hannah Blake

pharmaphorum

The Bayer Group has announced a core sales increase of 10% in the second quarter, pushing its earnings to EU €10,177 million. The Bayer Group consists of three subgroups, CropScience, HealthCare and MaterialScience, as well as three service companies.

Out of the Group’s 10% increase, second-quarter sales in the pharmaceuticals segment, from Bayer’s prescription drug business, attributed to a 4.3% rise to EU €2.7million. Growth was mainly achieved in North America and the emerging markets, such as China.

“In view of the strong business performance, we are raising our guidance for the full year 2012. All the subgroups contributed to the increase, especially CropScience which continued to grow strongly.”

Dr Marijn Dekkers, Chairman of Bayer’s Management Board, comments on the results.

The company is counting on its health and crop chemicals units to drive growth forward, as sales and profits from plastics remained the same this year. Bayer is currently benefitting from a favourable currency environment, due to the weak Euro, and has therefore raised its targets for 2012 to an increase in earnings of between 4 and 5%, which was set at 3% before the second-quarter sales were released.