Pharma sales bring rare cheer as markets batter Bayer again
The troubles of the Crop Science division overshadowed the more encouraging figures in Pharmaceuticals in the latest quarterly financial results at German life sciences group Bayer (BAYN: DE).
Shares in the company were 4% down as trading entered its final third on Tuesday, with a major factor in this likely to be Bayer admitting that the group’s targets for 2019 were now looking ‘increasingly ambitious,’ including the group sales estimate of 46 billion euros.
Another worry was the latest update on US lawsuits in connection with the Roundup (glyphosate) product that the group acquired in its acquisition with Monsanto. There are now around 18,400 plaintiffs, though Bayer continues to claim that it has a robust defense against the allegations.
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