Contraceptive and Betaferon sales bolster Bayer
pharmafile | October 30, 2008 | News story | Sales and Marketing | Bayer
Strong sales of Bayer's Yaz contraceptives and multiple sclerosis treatment Betaferon have helped third quarter pharma sales that could only manage a small single-digit rise.
Flat primary care sales restrained the company's overall pharmaceutical sales, which only rose 2.6% to Euros 2.6 billion.
Across its HealthCare, CropScience and MaterialScience divisions the group's overall profits fell 76% to Euros 277 million because of higher energy and raw materials costs.
Management Board Chairman Werner Wenning predicted the company as a whole would face a difficult fourth quarter, but said he was confident about the future development of the business.
He also took the opportunity to address the current financial crisis, which said would not have a direct impact on Bayer's financial status.
"In particular, the [2006] Schering acquisition was soundly financed right from the start. As a result, we currently have no need for refinancing – and debt that matures in the coming years is intended to be paid down out of operating cash flow," said Wenning.
"However, we are of course affected by the economic environment as a whole," he acknowledged.
Pharma product highlights
Bayer's third quarter pharma sales were led by its Yaz franchise and Betaferon, which both increased sales by 11% to Euros 308 million and Euros 291 million respectively.
Werner Wenning noted that the company had also seen its Yaz product family expand in the US, despite the appearance of generic competition for Yasmin in July.
He described European approval of the antithrombotic drug Xarelto at the beginning of October as a key breakthrough for the quarter.
"We believe this innovative drug has the potential to achieve peak annual sales of more than Euros 2 billion in the future," he said.
The orally administered drug can now be used for prophylaxis of venous thromboembolism following elective hip or knee replacement surgery in adult patients and clinical studies in further indications are at advanced stages.
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