Bayer presents positive third quarter financial results

Germany’s Bayer (BAYN: DE) has provided an upbeat third quarter financial results statement, showing sales of pharmaceuticals rose by 4.8% to 4.2 billion euros ($4.7 billion).

Overall revenues for the group, including the firm’s animal health and crop science divisions, rose 1.9% to 9.9 billion euros ($11.1 billion). Net income was 2.9 billion euros, a 25% drop from the same period last year, or 2.94 euros per share. Bayer’s shares rose an initial 2.7% this morning.

Sales of Bayer’s key growth products amounted to 1.7 billion euros, which translates into combined growth of 15.7% for the oral anticoagulant Xarelto (rivaroxaban), the eye medicine Eylea (aflibercept), the cancer drugs Xofigo (radium-223) and Stivarga (regorafenib), and the pulmonary hypertension treatment Adempas (riociguat).