Bayer reports 11% sales increase in Q3; acquires Schiff
The Bayer Group remains on a path of growth, according to the pharmaceutical company’s latest Q3 financial report. The three main groups, HealthCare, CropScience and MaterialScience all performed well during the third quarter, as Group sales were up 11.5%.
However, net income for the Group fell 17.8%, compared to the same point last year, although this was partly due to special charges, particularly for legal claims relating to contraceptive pill, Yasmin, and restructuring expenses of approximately €134 million.
Sales of the HealthCare subgroup climbed by 12.4% in Q3 to €4,719 million, contributed by both of its segments: pharmaceuticals and consumer health, especially in North America and the emerging markets, such as China. The pharmaceutical sales segment rose by 13%, largely due to Bayer’s best-selling product, Xarelto (rivaroxaban).
“The upward trend in our life science businesses – HealthCare and CropScience – continued in the third quarter of 2012. We remain on a successful path, and we confirm our guidance for 2012.
“Our current and future success and our growth are based on our new and innovative products in the life sciences. Our primary goal is therefore to grow organically on the basis of our innovative capability. We are supplementing this with targeted small to mid-size acquisitions in the life sciences that take us forward strategically.”
Bayer’s Management Board Chairman, Dr. Marijn Dekkers.
Bayer continues to anticipate a currency- and portfolio-adjusted sales increase of between 4 and 5% for the full year 2012, which would result in Group sales of about €39 to 40 billion.
Bayer has also announced today that it is to acquire Schiff Nutrition International for US$ 1.2 billion. Schiff is known for its production of vitamins and nutritional supplements in the United States and other countries.
Bayer to acquire Schiff, reports Q3 rise in earns (Bloomberg Businessweek)
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