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    Home > Medical News > Latest Medical News > Bayer completed its acquisition of Monsanto with sales of EUR 9,481 million in the second quarter

    Bayer completed its acquisition of Monsanto with sales of EUR 9,481 million in the second quarter

    • Last Update: 2021-02-27
    • Source: Internet
    • Author: User
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    Recently, Bayer reported second quarter 2018 results, during which the Group's sales increased by 8.5% (adjusted for exchange rate and portfolio) to EUR 9,481 million. Sales rose 8.8 percent, according to the report. EBITDA, net of special items, rose 3.9 per cent to EUR 2,335 million. The adverse effects of the exchange rate reduced earnings by some 130 million euros. Earnings before interest and tax fell 7.7 percent to 1,351 million euros, including special expenses of 363 million euros (Q2 2017: 244 million euros), mainly from expenses related to the acquisition of Monsanto. Net income fell 34.7 per cent to 799 million euros, mainly due to the fact that it was not included in the spin-off of Cosco's business. By contrast, core earnings per share for continuing operations rose 1.3 per cent to 1.54 euros.
    reporting period, Bayer completed its historic acquisition of Monsanto for $63 billion, including Monsanto's outstanding debt. The results noted an increase in operating performance even without taking into account the newly acquired Monsanto business. Adjusted for exchange rates and portfolios, sales increased in three of the four businesses.sales of prescription drugs increased
    reported a 3.1% increase in the Group's prescription drug business (adjusted for exchange rates and portfolio) to EUR 4,217 million in the second quarter. Overall sales of oral anticoagulant Berito ®, ophthalmology drugs Arya ®, anticancer drugs XofigoTM and Bayvango ®, and AdempasTM, a drug for pulmonary hypertension, increased by 13.2% (adjusted for exchange rate and portfolio) to EUR 1,691 million compared with the same period last year. Byreto's sales rose 10.6 per cent (adjusted® for exchange rate and portfolio) as sales rose in Europe, Japan and China. The company is ® by a Johnson and Johnson subsidiary in the U.S., and licensing revenue, which is considered Bayer's sales, has also grown positively. Sales at ® (adjusted for exchange rate and portfolio: up 22.5 per cent) and AdempasTM (adjusted for exchange rate and portfolio: 23.4 per cent) grew even more strongly. Sales at XofigoTM declined (adjusted for exchange rate and portfolio: down 9.2%) as sales fell in the U.S., Japan and other countries.
    Among other leading prescription drug products, the strongest sales growth was in the diabetes treatment drug Baitang ® (adjusted for exchange rate and portfolio: up 10.3%), mainly due to increased sales in the Chinese market and the magnetic resonance contrast agent GadhavistTM/Gareth ® (exchange rate and portfolio adjustment: 13% increase) that benefited from the good performance of the U.S. market. In contrast, sales of the multiple sclerosis treatment drug Pitalong ®/BetaseronTM fell 18.6 percent (adjusted for exchange rates and portfolios), mainly due to intense competition in the U.S. market. Sales of the coagulant Bekoc ®/Kokci® fell 13.7 per cent (adjusted for exchange rate and portfolio) as a result of the termination of a contract by a distribution co-ed at the end of 2017.
    before interest, tax, depreciation and amortization (EBITDA) on prescription drugs fell 8 per cent to 1,363 million euros. Adjusted for exchange rates, earnings fell 4.3 per cent. This is mainly due to increased research and development and sales costs, temporary supply disruptions and higher costs associated with the products sold.'s health consumer goods business continued to decline
    sales of self-care products (health consumer goods) fell 1.4 per cent (adjusted for exchange rates and portfolio) to EUR 1,413 million. "Business in the Asia-Pacific region is growing again," Mr Bowman said. However, sales growth in the region did not fully offset declines in other markets, particularly in Europe/Middle East/Africa and North America.
    sales of two wound care and skincare products, BepanthenTM/BepantholTM, increased by 2.7% (adjusted for exchange rates and portfolio), mainly due to growth in the European market. Aleve™, analgesic product, also posted growth (3.3 per cent adjusted for exchange rate and portfolio growth), helped by an extension of its US product line. Thanks to continued strong demand in the Asia-Pacific market, Bayer's sales of vitamin Ivey ® during pregnancy increased by 31.3% (adjusted for exchange rates and portfolio). Business of the antihistamine Territan ® fell 5.7 per cent (adjusted for exchange rates and portfolios), mainly due to changes in Chinese consumer buying behaviour and a marked delay in the US allergy season. Foot care product Dr. Scholl's™ sales fell 9.8 percent, adjusted for exchange rates and portfolios, especially in the U.S., as Bayer benefited from increased inventories at U.S. market sellers in the same period last year. Overall, Dr. Scholl™ is making positive progress in repositioning its brand in the U.S. market.
    The health consumer goods business' EBITDA, net of special items, fell 18.5 per cent to Euro256 million, or 14.6 per cent on exchange rate-adjusted terms, mainly due to lower production and higher sales costs, partly due to changes in product structure.
    addition, the results also noted that Bayer's 2018 earnings would be lower than it had forecast in February due to a later-than-expected acquisition of Monsanto. Bayer Group's sales are expected to exceed 39 billion euros (previously expected: less than 35 billion euros), of which more than 5 billion euros will come from the acquired Monsanto business. Bayer has confirmed its previous sales and earnings guidance for the prescription drug and animal health businesses. (Bayer Financial Report)
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