Bayer on track to meet restructuring goals in 2024 first quarter

14 May 2024

Diversified German drugmaker Bayer (BAYN: DE) has reported group sales of 13.8 billion euros ($14.9 billion) for the first quarter of 2024, a fall of around 0.6%, meeting expectations.

The firm’s pharmaceuticals business posted higher sales and earnings, with an increase of 3.9% to 4.4 billion euros, supported by strong performances for Nubeqa (darolutamide), a cancer drug, and Kerendia (finerenone), a kidney disease med.

Core earnings per share fell 4.4% to 2.82 euros, while net income stood at 2 billion euros for the quarter.

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