FiercePharma says: Bayer earned €280 million this quarter compared to €249 million the previous year, thanks primarily to its farm products and high-tech material divisons, as drug sales slowed despite good growth in emerging markets. Its birth control pill, Yaz, suffered due to increased generic competition. The company set aside €436 million for U.S. lawsuits, including €50 million for Yaz and Yasmin litigation.

Highlights

• Sales grow by 16.1 percent to EUR 8,581 million
• EBITDA before special items up 10.5 percent to €1.656 million
• Core earnings per share increase by 21.8 percent to €0.95
• Provisions of €436 million established for litigations
• Net financial debt reduced by €1.6 billion to €9.1 billion
• Group outlook for 2010 confirmed

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Bayer's website: http://www.bayer.com/
Full release: Bayer earnings release

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