Bayer takes multiple hits in tough third quarter

German pharma major Bayer (BAYN: DE) has outlined financial results from what it described as a: “challenging third quarter,” with overall sales declining 5.1% to 8.5 billion euros ($10 billion).

Much of the decline was due to seasonal and currency effects negatively impacting the business, particularly in its crop sciences division, as well as increased legal costs and impairment charges related to its  ill-fated acquisition of Monsanto.

Pharmaceuticals fared somewhat better, however, with sales of prescription medicines falling 1.8% to 4.2 billion euros.