Bayer's pharmaceutical sales increase Q1 2009
30 April 2009 00:00 in Pharmaceutical Company Financials
Bayer's pharmaceutical offerings continued to grow in the first quarter of the year, it has asserted.
As well as this division of the company, the CropScience department also achieved an increase in sales.
However, there was a decrease in incomings from the firm's MaterialScience branch, which had a notable impact on the group's overall sales and earnings.
Between January and March this year, sales for the whole business were 7,895 million euros (7,080 million pounds). This was a 7.5 per cent fall compared to the same period in 2008.
In Bayer's pharmaceutical segment, first quarter sales increased by 4.8 per cent. All units ? women's healthcare, speciality medicine, diagnostic imaging and general medicine ? contributed to the 2,587 million euros that was generated in the division.
Management board chairman Werner Wenning explained the company had received mixed results.
"While our pharmaceuticals business saw pleasing growth overall, sales of consumer health were down because of inventory reductions and lower consumer spending," he said.
Bayer is based in Leverkusen, Germany and has operations worldwide.
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Story collated for Zenopa by the Adfero News Agency