Recent pharmaceutical product launches boost Bayer in Q1

Published: 28-Apr-2014

German giant forecasts sales of these products to rise from €598m to €2.8bn in 2014


Recently launched pharmaceutical products helped Bayer to start 2014 with encouraging growth in sales and earnings in the first quarter.

'We are confident about our business development for the rest of the year and confirm our guidance for 2014,' said Chief Executive Marijn Dekkers.

Sales of the total Bayer Group rose by 2.8% in the first quarter to €10.5bn (Q1 2013: €10.3bn). EBITDA before special items improved by 11.6% to €2.7bn (Q1 2013: €2.5bn). Net income rose by 22.7% to €1.4bn (Q1 2013: €1.2bn).

The pharmaceuticals business recorded strong growth, with sales rising by 14.9% to €2.8bn, driven by the recently launched medicines Xarelto, Eylea, Stivarga, Xofigo and Adempas, which registered combined sales of €598m (Q1 2013: €244m) led by the anticoagulant Xarelto, which is Bayer's best-selling pharmaceutical product. The eye medicine Eylea posted strong gains, and business with the cancer drugs Stivarga and Xofigo 'developed well', the company said. The pulmonary hypertension treatment Adempas, launched in the US in the fourth quarter of 2013, also contributed to the sales growth.

Among the established best-selling products, the cancer drug Nexavar recorded sales gains in all regions, with currency-adjusted (Fx adj.) growth of 13.6%. Sales of Aspirin Cardio for preventing heart attacks rose by 19.2% (Fx adj.), largely thanks to increased demand in China. The decline in sales of the blood-clotting medicine Kogenate (Fx adj. –5.7%) was partly explained by the high sales level of the prior-year quarter, the company said.

Sales of the multiple sclerosis drug Betaferon/Betaseron declined by 21.5%, mainly due to increased competition in the US. Generic competition meant that business with the YAZ/Yasmin/Yasminelle oral contraceptives was also down by 2.6%.

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