A 30 percent hike in earnings isn't too shabby: just ask Bayer. The company reported a rise in profits to $1.65 billion, and it expects margins of more than 20 percent for the year thanks to improved earnings in its healthcare unit. One of the big winners was Yasmin, the company's contraceptive drug, whose sales grew by 38 percent in the quarter. The company's stock was up 2 percent on the news and up some 28 percent so far this year. If the company's expectations prove true, some Bayer execs are going to be very happy with their bonus checks at year's end.
- read the Dow Jones report [1] on Bayer's quarter
Related Article:
Bayer plans to beef up biotech pipeline. Report [2]
Links:
[1] http://money.cnn.com/news/newsfeeds/articles/djf500/200708070259DOWJONESDJONLINE000089_FORTUNE5.htm
[2] http://www.fiercebiotech.com/story/bayer-plans-to-beef-up-biotech-pipeline/2007-01-02