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Bayer buoyed by Schering integration

Published on 08/08/07 at 01:08pm

Bayer more than doubled its second quarter pharma sales, which rose to €2.6 billion on the back of the group's acquisition of Schering last year.

Consumer sales grew by a more modest 6% to €1.1 billion and, when the figures are adjusted for the impact of the Schering deal and currency and portfolio changes, Bayer's healthcare sales grew by 9% to €3.7 billion.

Chief executive Werner Wenning said the integration of the acquired business of Schering is proceeding quicker than planned and the group is now on track to make synergies of more than €800 million by 2009, up from previous estimates of €700 million.

Former Schering products contributed €1.5 billion to the group's figures, with sales of its contraceptive franchise Yasmin up 38% to €250 million.

The company also saw encouraging growth in its new kidney cancer drug Nexavar, sales of which increased by 160% to €60 million in the period - its second quarter on the market and the first one to include European sales.

Overall, the group's second quarter sales increased by 22% to €8.2 billion, with net income up by 46% to €660 million.

Wenning said Bayer continues to aim for an increase of more than 10% in group sales for 2007 and expects all of its divisions will grow with or faster than the market.



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