Bayer announced that fourth-quarter sales of prescription drugs rose 7.3 percent year-over-year to 4.3 billion euros ($4.5 billion), with revenue from key growth products including Eylea and Xarelto increasing “robustly.” The company noted that sales of key growth products, which also include Adempas, Stivarga and Xofigo, reached 1.5 billion euros ($1.6 billion) in the three-month period, up 24.3 percent on a constant currency basis.
“Sales at pharmaceuticals advanced by a gratifying amount,” remarked CEO Werner Baumann, adding “we expanded business markedly in all regions.” In the quarter, sales of Xarelto climbed 28.6 percent versus the prior-year period to 836 million euros ($879 million), while revenue from Eylea jumped 20.3 percent to 426 million euros ($448 million).
Bayer’s overall sales in quarter lifted 4.7 percent to 11.8 billion euros ($12.4 billion), while net income plunged 26.1 percent to 453 million euros ($476 million), missing analyst expectations of 712 million euros ($748 million). Meanwhile, three-monthly sales in the company’s consumer health division rose 2.2 percent to 1.5 billion euros.
For 2016, sales of prescription drugs climbed 7.3 percent to 16.4 billion euros ($17.2 billion), with revenue from key growth products jumping 28 percent to 5.4 billion euros ($5.7 billion), up from 4.2 billion euros ($4.4 billion) in the prior year. Bayer noted that overall sales increased 1.5 percent in 2016 to 46.8 billion euros ($49.2 billion), while net income lifted 10.2 percent to 4.5 billion euros ($4.7 billion).
For the current year, the company expects sales of pharmaceuticals of more than 17 billion euros ($17.9 billion), representing mid-single-digit percentage growth, with combined revenue from Adempas, Eylea, Stivarga, Xarelto and Xofigo above 6 billion euros ($6.3 billion). Bayer’s overall sales are predicted to be above 49 billion euros ($51.5 billion), corresponding to a low- to mid-single-digit percentage increase, with earnings rising by a mid-single-digit percentage.