Bayer third-quarter profit beats analyst estimates

December 2006
Chemical Business;Dec2006, Vol. 20 Issue 12, p69
Trade Publication
The article reports that the third-quarter profit of drug manufacturer Bayer AG declined less than analysts estimated and increased the earnings forecast for its pharmaceuticals unit. It is said that there was a 35 percent decline in net income while sales increased by 26 percent to 7.78 billion euros. To reduce expenses by 700 million euros a year to counter higher costs of raw materials and decline profit of crop-science unit, the company will close sites in the U.S.


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