UPDATE: Cancer drugs, OCs and Schering boost Bayer's 2nd-qtr, as group net leaps 46%
Initial reaction to German health care, crop sciences and chemicals major Bayer AG's consensus-beating second quarter 2007 results was positive, with the shares moving 2% higher but, after analysts digested the figures, the stock closed 1.9% lower at 51.52 euros on August 7.
Group sales rose 22% to 8.22 billion euros ($11.34 billion), while net income leapt 46% to 660.0 million euros (falling short of the 687.0 million euros expectations) and underlying earnings before interest, tax, depreciation and amortization climbed 39% to 1.81 billion euros.
Health care revenues rocket 65%
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