Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Executive Summary
OTCs fill pharma gap for Bayer: Lower sales of Rx pharmaceuticals in the U.S., attributable to generic competition for some drugs, are counterbalanced by the "particularly pleasing growth" of Bayer HealthCare's Consumer Health segment, says Chairman Werner Wenning. During a July 29 call, Wenning noted OTC business grew 6 percent in the firm's fiscal 2010 second quarter, with Bayer Aspirinup 6 percent and Aleve up 14.3 percent. Sales of the One A Day multivitamin line, which expanded in May with the launch of Men's Pro Edge formula, grew 14.8 percent. Wenning attributed the consumer product growth to economic recovery and increased consumption in the U.S. Bayer HealthCare reported overall quarterly sales rose 6.4 percent, adjusted for currency exchange, to 4.31 billion euros ($5.6 billion under July 29 conversion rates). The German chemical and pharmaceutical giant's first-half health care sales gained 3.6 percent to reach $10.6 billion
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