Bayer hails strong 2009 performance

Bayer has hailed a strong financial performance in 2009 despite the effects of the recession on its fiscal results.

The healthcare and chemical company’s sales for the year dropped by 5.3 per cent from their 2008 levels to 31.2 billion euros (28.2 billion pounds).

However, the company’s cash flow increased by 49 per cent compared to last year to 5.4 billion, its highest level ever, with its healthcare division having been highlighted as a strong performer.

Werner Wenning, chairman of the board of management for Bayer, stated that these results give the company cause to be “optimistic for the future”.

He said: “We believe the Bayer group is well-positioned strategically and on course for success because of the potential our portfolio offers for innovation and growth.”

Last month, the company published positive results from a recent clinical trial of VEGF Trap-Eye, a new treatment designed for treatment of the eye condition diabetic macular edema.