Favorable trends in drugs business and especially good sales of standard products such as aspirin are reported to have helped Bayer's Italian subsidiary, Bayer SpA, to check the decline in sales in 1991 to around 2.6%. Italian sales last year totalled 2.37 billion lire ($1.9 billion). This figure was said to have accounted for 7.4% of total Bayer group sales.
Gross profits in Italy fell back 24% to 65 billion lire, while net profits held up better. Profits were affected by merger losses arising from the linking of two diagnostics subsidiaries.
1992 Sales Forecast Meantime, Bayer is forecasting a rise in 1992 sales of 7.5%, though this was not achieved in the first two months. Losses from diagnostics production have now been eliminated, according to Italian group president Paolo Pagliani and profits have increased.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze