Bayer posts smaller than expected drop in Q1 profits

The German pharmaceutical giant Bayer announced on Tuesday a 35% drop of its net profit to 1,300 million euros in the first trimester, at the beginning of a year that the company previews that it will be difficult due to the obstacles of the agrochemical sector. The turnover of the group based in Leverkusen reached 13,700 million euros (15,230 million dollars), a level stable compared to the previous year, and that is above the forecasts of the …

The lamentation wave continues, operationally disappointed the agricultural business - the nightmare Monsanto does not want to end. So far the workers were tame. However, their hard reaction to the site closure should give Bill Anderson to think.

Bayer posts smaller than expected drop in Q1 profits

Bayer has today posted a smaller decline in first-quarter adjusted earnings than investors had feared as strong prescription numbers for new drugs offset a drop in its seed businesses, boosting its shares.

In 2018, Bayer acquired its US competitor Monsanto, but nothing came of the expected release in the agrochemicals business. Global price pressure is high, now Bayer wants to reduce jobs.

Bayer plans to close the plant in Frankfurt by 2028. This is due to competitive pressure from Asia and austerity measures.

German pharmaceutical and chemical group Bayer generated 13.74 billion euros in revenue in the first quarter of this year, which is 0.2 percent less than in the same period last year. Net profit fell by 35 percent to 1.3 billion euros, foreign news agencies report.