Pharmaceuticals: Bayer raises annual targets: Group CEO sees "turning point"
The group benefits from a strong pharmaceutical business and is weathering the turbulence in the agricultural market. The group is now setting more ambitious goals, and the stock is rising sharply.
Bayer AG has raised its annual forecast after a strong third quarter. The company's pharmaceutical division performed better than expected, with CEO Bill Anderson saying a "turning point" has been reached. Bayer's adjusted operating profit (Ebitda) rose 6.9% to €1.62 billion between July and September, beating analyst predictions.
The company now expects an adjusted operating profit of €9.8-10.3 billion for the year, up from its previous forecast of €9.6-10.1 billion. The Bayer stock rose over 5% to more than €52 following the announcement.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
