July 29, 2011


Bayer's profits leap over 40% in Q2


German pharmaceutical and chemical company Bayer AG says strong growth in the crop science division helped second-quarter profits rise more than 40%.


Bayer on Thursday (Jul 28) reported net profits of EUR747 million (US$1,085 million) for the April-July period, up from EUR530 million (US$770 million) a year earlier.


Revenue rose only 0.8% as the healthcare division saw its sales drop 2.3% to EUR4.2 million (US$6.1 million) due to reforms in various countries.


The crop science division fared better with revenues up 3.1%. The material science unit also saw sales rise 3.5%.


Bayer CEO Marijn Dekkers said the company's outlook for 2011 remained on track following "significant progress" with products from the research and development pipeline.

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