Bayer - Big Pharma's Q2 2010 Earnings Report


  • Further growth in sales and underlying EBITDA primarily driven by MaterialScience, Consumer Health as well as positive currency effects.
  • Price +1.3%, volume +7.9%, currency +6.0%, portfolio -0.6%
  • Special items due to partial write-down of Zevalin (-€132 million) and litigation (BHC -€57 million, BCS: -€66 million)
  • Currency impact on underlying EBITDA of approx. €160 million
  • Core EPS up 9.5%
  • Double-digit increase in net cash flow - working capital management further optimized
  • Increase in net financial debt mainly due to the dividend payment, annual payments of variable compensation, interest payments (occur mainly in Q2) and negative currency effects of €0.6 billion.
  • Significantly higher investments in R&D - R&D budget raised to €3.1 billion
  • Group outlook 2010 confirmed - subgroup outlook updated

See J&J's current stock quote from CNN Money

Bayer's website:
Full release: Bayer's earnings release

Bayer - Big Pharma's Q2 2010 Earnings Report

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