Deals
Bayer Profit Beats Estimates as Newest Drugs Buoy Demand
- Sales only grow at prescription drugs, animal health units
- Werner Baumann slated to take over as CEO at end of the month
This article is for subscribers only.
Bayer AG, Germany’s largest company, reported first-quarter profit that beat analysts’ estimates as top-selling drugs Xarelto and Eylea continued to soar.
Earnings before interest, taxes, depreciation and amortization, and excluding some costs, climbed 16 percent to 3.40 billion euros ($3.83 billion), the Leverkusen, Germany-based company said in a statement on Tuesday. That beat the 3.10 billion-euro average estimate of 10 analysts surveyed by Bloomberg.