Bayer Q1 earnings up 16 percent on pharmaceuticals

Germany drugmaker Bayer reported 15.7 percent higher underlying core earnings for the first quarter, boosted by prescription drugs such as eye treatment Eylea.

John Macdougall | AFP/Getty Images

First-quarter profit before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off items, rose to 3.4 billion euros ($3.8 billion), above average market expectations of 3.07 billion euros.

Bayer, the inventor of aspirin and maker of Yasmin birth control pills, said it still expected adjusted EBITDA to increase by a medium single-digit percentage this year, when excluding separately-listed plastics subsidiary Covestro.

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