Bayer Earnings Rise as New Drugs Offset Stronger Euro
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Bayer AG’s second-quarter earnings rose on improved sales of new heart, cancer and eye drugs even as a stronger euro and the weaker performance of older products restrained profit.
Earnings before interest, taxes, depreciation, amortization and one-time items climbed 1 percent to 2.22 billion euros ($2.95 billion), the Leverkusen, Germany-based company said in a statement today. That fell short of the 2.3-billion-euro average estimate of 10 analysts surveyed by Bloomberg.