Bayer reports 38% higher profit in Q1 2017

Bayer has reported net income of €2.083 million for Q1 2017 which is 37.9 percent higher compared to the same period last year.

Sales of prescription medicines rose in the first quarter by an encouraging 7.4 percent  to €4.263 million, the company said.

Bayer reported the oral anticoagulant Xarelto, the eye medicine Eylea, the cancer drugs Xofigo and Stivarga, and the pulmonary hypertension treatment Adempas posted total combined sales of €1.445 million.

“Our key growth products were once again especially successful, registering combined growth of 20 percent on a currency-adjusted basis,” Bayer’s CEO Werner Baumann said.

EBITDA before special items of Pharmaceuticals increased by 19.1 percent to €1.502 million While sales rose, selling expenses and research and development expenditures were at around the same level as the prior-year quarter, the company said.