Bayer makes strong start to 2015
German life sciences major Bayer (BAYN: DE) reported first-quarter 2015 financials this morning, showing that sales leapt 14.8% to 12.117 billion euros ($13.51 billion), pushed high by drugs such as the anticoagulant Xarelto (rivaroxaban). Adjusted for currency and portfolio effects sales grew by 2.7%.
Earnings before interest, taxes, depreciation, amortization (EBITDA) and special items rose to 3 billion euros from 2.74 billion euros a year earlier. Profit after-tax profits declined 8.4% to 1.303 billion euros. However, operating profit before special items increased 9.6% to 3.9 billion euros. Bayer’s shares edged up 0.6% to 130.23euros in early trading this morning but later slipped back 0.5% to 128.35 euros.
"At HealthCare we continued to benefit from the positive development of our recently launched pharmaceutical products and the gratifying expansion of business in Consumer Health," said Bayer chief executive Marijn Dekkers.
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