Bayer AG, a well diversified German based company engaged in pharmaceuticals, life science, crop protection/seeds, consumer health and animal health, has posted strong growth in net profit of 174 per cent to €613 million during the fourth quarter ended December 2015 from €224 million in the corresponding period of last year. The profit improved due to good business development, especially at Healthcare was accompanied by higher R&D and selling expenses. Net special income amounted to €116 million.
Its consolidated sales increased 4.9 per cent to €11,319 million from €10.792 million in the last period. Pharmaceutical sales improved by 9.2 per cent to €3,571 million from €3,271 million and contributed 31.5 per cent to its total sales.
For the full year ended December 2015, Bayer's total sales increased by 12.1 per cent to €46,324 million from €41,339 million in the previous year. Its pharmaceutical sales increased by 14 per cent to €13,745 million from €12,052 million, contributing 29.7 per cent to its net sales. Its pharmaceutical sales in Europe increased by 10.8 per cent to €4,869 million and that in North America by 23.3 per cent to €3,363 million from €2,728 million. Its pharma sales in Asia/Pacific also improved 17.8 per cent to €3,868 million from €3,278 million. However, sales in Latin America/Africa/Middle East declined slightly to €1645 million from €1650 million.
The sales of Xarelto increased by 34.1 per cent to €2,252 million from €1679 million and that of Eylea moved up by 61.8 per cent to €1,228 million from from 759 million. Similarly, sales of Kogenate increased marginally by 4.1 per cent to €1,155 million from €1,109 million. The sales of Mirena product family increased by 18.2 per cent to €968 million. However, sales of YAZ/Yasmin/Yasminelle declined by 8.1 per cent to €706 million.
Consumer Health segment registered sales growth of 30 per cent to €9,129 million as against €7023 million. The sales of CorpScience moved up 9.2 per cent to €10,367 million from €9,494 million. The sales of Covestro division increased to €11,982 million from €11651 million.
The company's net profit for the full year ended December 2015 increased by 20 per cent to €4,110 million from €3,343 million in the previous year. It shown total Special income of €1502 million during 2015 as against €808 in the last year. R&D expenditure went up by 21 per cent to €4,281 million from €3,537 million.
The company has introduced a new organizational structure from January 2016 and giving more focus on Life Science businesses. Its operations are now managed in three divisions viz., pharmaceuticals, consumer health and crop science – and the Animal health business unit. The former Bayer HealthCare subgroup has been dissolved. The radiology and pharmaceuticals businesses have been merged to form the pharmaceutical division. The former material science subgroup, renamed Covestro, became legally and economically independent from September 2015. Covestro AG was floated on the stock market on October 6, 2015.