Bayer announces rise in sales

Sales of Bayer Healthcare have risen by 3.3 per cent in the third quarter of this year to 3,802 million euros (3,022 million pounds).

The company reported that business has expanded by 5.1 per cent, with overall sales up two per cent to 7,948 million euros.

Purchases of the multiple sclerosis treatment Betaferon/Betaseron were also up 15.2 per cent and the cancer drug Nexavar saw an increase of 62.9 per cent.

Werner Wenning, management board chairman at Bayer, said that though the fourth quarter saw a “difficult environment”, targets for 2008 had been reached.

He added: “We are also confident about the future development of the business and aim to grow earnings again next year.”

The company adds that it plans to narrow its forecast for 2009 at the Spring Financial News Conference on March 3rd.

Meanwhile, the company’s Science and Education Foundation has pledged 150,000 euros towards the funding of 23 natural sciences and medicine students, as part of the Bayer Fellowship Program.