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The Germany-based company Bayer said net income rose to 1.19 billion euros ($1.3 billion) compared with 999 million euros a year ago.
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Bayer profit jumps on drug sales

Associated Press

Bayer profit jumps on drug sales

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.

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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.

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The Germany-based company Bayer said net income rose to 1.19 billion euros ($1.3 billion) compared with 999 million euros a year ago.  (Associated Press)
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