Bayer HealthCare ‘particularly successful’ in 2006

Bayer has announced its financial results for the 2006 fiscal year. The group generated sales of 28,956 million euros (14,909 million pounds), an increase of 17.2 per cent over the previous year.

Following deductions for taxes, adjustments for minority interests and added income from discontinued operations, the group’s net income rose 5.4 per cent in 2006, reaching 1,683 million euros.

The company reports that the business trends varied across its different divisions, noting that its healthcare unit was “particularly successful”, reporting growth above that of the market, with an additional boost from its Schering acquisition.

Healthcare revenues increased by 46.6 per cent in 2006, reaching 11,724 million euros, with sales of pharmaceuticals growing by 83.9 per cent to 7,478 million euros.

Werner Wenning, chairman of the management board, said: “Including Schering’s sales prior to the acquisition date as well gave Bayer Schering Pharma total pro forma sales of more than ten billion euros for 2006.”

He added that this sum was an “impressive” figure.

Earlier this week, Bayer announced a 5.3 per cent increase in its dividend for the 2006 fiscal year, with the amount reaching one euro per share, with the company stating that it wished its shareholders to “participate appropriately” in the financial success of the company in the last fiscal year.