Bayer today said third-quarter net income climbed by nearly 19 percent on a strong performance by its prescription drugs including blood clot treatment Xarelto and medicines for macular degeneration and cancer.
The Germany-based company said net income rose to 1.19 billion euros ($1.3 billion) compared with 999 million euros a year ago.
Sales increased by 2.3 percent to 11.3 billion euros.
The company, which has about 1,600 employees in the Pittsburgh region, is in the process of buying agrochemical business Monsanto Corp. in a deal valued at $66 billion. Werner Baumann, Bayer’s chief executive, today defended the acquisition even though it faces possible antitrust challenges.
Joyce Gannon: jgannon@post-gazette.com or 412-263-1580.
First Published: October 26, 2016, 2:18 p.m.