Bayer makes modest start to year as Schneider resists structure change

Bayer AG of Germany has posted first-quarter 2001 operating profits oncontinuing operations before exceptionals of 936 million euros ($840.7 million), a fall of 6.9% and a 21% decrease in net income to 442 million euros, due to restructuring charges. Sales reached 7.66 billion euros, an increase of 10%.

Turnover for Bayer's health care segment rose 4% to 2.39 billion euros, with pharmaceuticals growing 2%. The anti-infective Avelox/Avalox (moxifloxacin) performed very well despite intense competition, the company said, while the lipid-lowerer Lipobay/Baycol (cerivastatin) also benefited from a push in the USA from Bayer's expanded field force.

On the negative side, the Leverkusen-based group noted that sales of biological products are being hampered by a delay in launches of Kogenate (recombinant Factor VIII). The impact of this on full-year earnings cannot be finally assessed until the matter has been clarified with the US Food and Drug Administration.