Bayer Q2 sales hit €11.1bn, boosted by cancer and kidney drug demand, despite legal troubles and stock drops.

Bayer AG reported Q2 sales of €11.1bn, surpassing expectations due to a rise in demand for cancer and kidney drugs Nubeqa and Kerendia. The company's Crop Science division sales reached nearly €5bn. Despite the positive results, Bayer faces ongoing legal issues concerning the herbicide Roundup, acquired in the 2018 Monsanto takeover. The company's stock has dropped 48% in the last 12 months and more than 70% since the Monsanto acquisition. Bayer reiterated its overall earnings forecast and raised its 2024 sales outlook for the pharma division.

August 06, 2024
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