Bayer's net income jumps 20% to €1.5B in Q1

Monday, 27. April 2020 07:38

Bayer AG said on Thursday that its sales in the first quarter of 2020 amounted to €12.8 billion, rising 4.8% from the same period a year earlier.

Net income surged 20% year on year to €1.5 billion, or €1.52 per share.

The pharmaceutical giant noted that while the COVID-19 pandemic "led to higher demand - partly due to inventory buildup - and thus an increase in sales at some business units," the shutdowns and restrictions which came as a result of the outbreak are "adversely impacting" parts of Bayer's business.

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Breaking the News / NP