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    BAYN   DE000BAY0017

BAYER AG

(BAYN)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 07/27 03:58:17 pm
50.595 EUR   -1.51%
01:52pBlast in German industrial park kills two, several missing
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09:47aBAYER AG : JP Morgan reiterates its Buy rating
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06:55aBAYER AG : Gets a Buy rating from Berenberg
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Stroke drug Xarelto, plastics lift Bayer earnings

04/27/2017 | 05:06am EDT
The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal

FRANKFURT (Reuters) - Bayer (>> Bayer AG) raised its annual core earnings forecast on Thursday after beating expectations with a 15 percent quarterly advance helped by plastics unit Covestro and sales of stroke-prevention pill Xarelto in Europe and Japan.

FRANKFURT (Reuters) - Bayer (>> Bayer AG) raised its annual core earnings forecast on Thursday after beating expectations with a 15 percent quarterly advance helped by plastics unit Covestro and sales of stroke-prevention pill Xarelto in Europe and Japan.

Analysts had expected a worse result for Xarelto, a key drug for Bayer, after partner Johnson & Johnson (>> Johnson & Johnson), which owns the U.S. rights, reported a near 10 percent drop in sales for the drug hit by discounting.

Bayer's quarterly sales of Xarelto, prescribed to prevent potentially deadly blood clotting, climbed by about 20 percent to 751 million euros (£636.42 million), Bayer said.

"Our key growth products were once again especially successful," Bayer said in a statement, also citing contraceptive Mirena, eye medicine Eylea and cancer drugs Xofigo and Stivarga.

Bayer shares rose 3 percent to an 11-month high, topping the German blue-chip DAX <.GDAXI>, which was flat.

On top of rivalry from competing blood thinners, J&J's U.S. sales were dragged down by discounts granted to patients to offset reimbursement gaps in the U.S. government's Medicare programme. J&J pays up to 30 percent in royalties to Bayer.

Xarelto competes mainly with Eliquis from Pfizer (>> Pfizer Inc.) and Bristol-Myers Squibb (>> Bristol-Myers Squibb Co) as well as with Pradaxa from Boehringer Ingelheim.

"Xarelto was better than many had expected following weak U.S. number from J&J last week," Bernstein analysts wrote in a note, reiterating their "outperform" rating on the stock. "Bayer beat expectations for all divisions."

Adjusted group earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 15 percent to 3.9 billion euros (£3.30 billion), topping the 3.6 billion forecast by analysts in a Reuters poll.

Bayer said it now expected group EBITDA before special items to improve by a "low-teens percentage", up from a medium single-digit percentage gain seen previously.

It pointed to a brighter outlook for its plastics and chemicals subsidiary Covestro, which reported earnings on Tuesday.

Bayer also announced that its Chief Financial Officer Johannes Dietsch will leave the company at his own request in May 2018, after helping the German drugs and pesticides maker conclude its planned $66 billion acquisition of U.S. seeds giant Monsanto (>> Monsanto Company) by the end of this year.

(Editing by Georgina Prodhan and Jason Neely)

By Ludwig Burger


ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG -1.79% 50.45 Delayed Quote.6.68%
JASON CO., LTD. 0.75% 539 End-of-day quote.-19.31%
JOHNSON & JOHNSON 0.46% 172.66 Delayed Quote.9.21%
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Financials
Sales 2021 41 461 M 49 027 M 49 027 M
Net income 2021 3 600 M 4 257 M 4 257 M
Net Debt 2021 38 636 M 45 687 M 45 687 M
P/E ratio 2021 14,7x
Yield 2021 4,02%
Capitalization 50 467 M 59 604 M 59 677 M
EV / Sales 2021 2,15x
EV / Sales 2022 2,03x
Nbr of Employees 99 329
Free-Float 100,0%
Chart BAYER AG
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Bayer AG Technical Analysis Chart | BAYN | DE000BAY0017 | MarketScreener
Technical analysis trends BAYER AG
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 50,45 €
Average target price 64,79 €
Spread / Average Target 28,4%
EPS Revisions
Managers and Directors
Werner Baumann Chairman-Management Board
Wolfgang U. Nickl Chief Financial Officer
Norbert Winkeljohann Chairman-Supervisory Board
Bijoy Sagar Chief Information Technology Officer
Paul Achleitner Member-Supervisory Board
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