pharmaphorum August 6, 2024
Bayer has joined its peers among European drugmakers with a hike in pharma forecasts for the year, as it recorded a rise in group sales, but lower profits for the second quarter.
Total revenues came in at €11.1 billion ($12.2 billion) in the quarter, ahead of analyst consensus estimates, with pharma leading the charge as it recorded sales up 4.5% to €4.61 billion. There were also modest gains for the company’s consumer health and crop science divisions, although restructuring costs dragged down earnings by 16.5% to €2.11 billion.
Among pharma watchers, all eyes are currently on key pharma prospects Kerendia (finerenone) for chronic kidney disease and prostate cancer therapy Nubeqa (darolutamide) and they did not disappoint, growing 73% to €115...
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