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Bayer Sales Disappoint Despite Rise

Sales at Bayer, the German pharmaceuticals company, rose 5.4 percent to 9.252 billion euro ($13,282 million) in the second quarter.

When currency movements were stripped out, sales at Bayer actually grew by just 0.8 percent.

Growth in sales in the emerging markets, especially China, offset a relatively weak performance in North America and Western Europe as sales of the Yaz line of oral contraceptives fell because of generic competition.

Earnings before special items increased by 5.8 percent to 2.035 billion euro, and net income rose by 40.9 percent to 747 million.

The company reaffirmed its full-year outlook and said that the cost-cutting drive announced last year was proceeding as planned.

“We are pleased with the way our business performed,” said Dr. Marijn Dekkers, chief executive of Bayer, in a statement. “We have also achieved significant progress with products from our research and development pipeline.”