More sales, more profits: Bayer not only benefits from crisis-related purchases of painkillers and vitamin tablets. Business is also going well in other areas.
Düsseldorf (dpa) The pharmaceutical and agrochemical group Bayer has increased its sales despite - and with the Corona crisis.
A higher demand for over-the-counter medicines from vitamin preparations to painkillers may have been caused by the corona crisis. In addition, there was strong growth in the agricultural business and the continued success of the anticoagulant Xarelto, which filled the coffers of the Leverkusen-based group. Bayer announced Monday that sales in the first quarter rose 4.8 percent to around EUR 12.9 billion. Profits climbed 20 percent to just under 1.5 billion euros.
While many other companies complain about a drop in sales due to the corona crisis, Bayer benefited from the purchase of stocks by many consumers, especially in the over-the-counter medicines business. Adjusted for currency and price effects, sales rose sharply by 13.5 percent in the first quarter. In the case of food supplements such as vitamins or minerals, the increase was even 33.7 percent, in the areas of pain and cardio almost 20 percent.
Sales of prescription drugs also rose by almost 4 percent. The growth in the anticoagulant Xarelto was particularly strong with an increase of 18.8 percent. The preparation, which is used to prevent strokes, now accounts for almost a quarter of the pharmaceutical division's sales. The sales of eye medication Eylea, which is otherwise a growth driver, was only 1.7 percent. Analysts had expected less growth as treatments were postponed due to the Corona crisis.
In the agricultural division, Bayer benefited from high demand for corn seeds, fungicides and insect repellents at the start of the year. Overall, sales here rose by 5.7 percent. By contrast, the vegetable seed business declined significantly.
The Corona crisis thwarted hopes of a quick settlement in the US legal dispute over alleged cancer risks of weed killers containing glyphosate. Bayer continues to participate constructively in the mediation process that has been initiated and has made progress, reports Bayer CEO Werner Baumann. But the pandemic has slowed the mediation process considerably.
Between February and mid-April, the number of glyphosate lawsuits filed in the United States rose again by almost 4,000 to 52,500 . It is estimated that Bayer could cost around $ 10 billion.
However, Baumann reiterated that Bayer would only consider a solution if it made economic sense and ensured that future cases would also be brought to an efficient conclusion. Against the background of the Corona series, this applies to the economy more than ever.
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