Bayer shares slump despite increased sales and earnings guidance

5 August 2021

German drugmaker Bayer (BAYN: DE) looked set to close Thursday’s trading with brutal stock market losses of around 7%.

Markets were reacting to both Bayer’s second-quarter financial results and its acquisition of US biopharma Vividion Therapeutics for an upfront cost of $1.5 billion.

"We have achieved major successes in developing and launching drugs, some of which have blockbuster potential"Group sales in the quarter increased by 13% to 10.85 billion euros ($12.84 billion). A sales consensus provided by Vara Research saw sales coming in at 10.16 billion euros.

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