Emerging markets help Bayer through tough quarter
pharmafile | October 28, 2011 | News story | Sales and Marketing | Bayer, Xarelto, emerging markets
Bayer has posted modest results for the third quarter, with growth in emerging markets compensating for austerity measures in Europe and the US.
Group sales were up 1% in the third quarter to €8.7 billion, which includes its CropScience, consumer health care and MaterialScience businesses.
Sales in the conglomerate’s pharmaceuticals division rose just 0.3% when currency and certain products are adjusted. Pharma sales were down in Europe and North America due to the negative effects of austerity measures and health reforms respectively.
Bayer remained in growth mainly thanks to developments in the Asia-Pacific and Latin America regions, with sales in these countries advancing 10.5% to €9.74 billion in the first nine months, with China and Brazil contributing the lion’s share of growth.
Bayer’s chairman Marijn Dekkers said that the trend in the pharmaceuticals business in the emerging markets was “particularly encouraging” – and necessary as mature markets fail to help show growth.
Among the segment’s top pharma products, the Yaz franchise of oral contraceptives was one of the strongest performers, with sales up 16.5 per cent.
Cancer treatment Nexavar also had a good quarter and was up by 4.5%, with adjustments, mainly driven by its liver cancer indication.
By contrast, sales of the blood-clotting drug Kogenate declined 3.9%, due to problems with distribution.
Dekker highlighted the recent recommendation by an FDA advisory committee for the use of Xarelto in atrial fibrillation.
The drug (co-marketed with J&J) is still tipped for blockbuster status, but analysts have downgraded forecasts after rival oral anticoagulants, Boehringer’s Pradaxa and Pfizer and BMS’ Eliquis have shown superior performance in atrial fibrillation.
The FDA is expected to make a final decision in early November, but it is likely to restrict use of the drug to high-risk patients.
Ben Adams
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