Medicines and plastics make Bayer profit in quarter

The German chemical and pharmaceutical company Bayer reported high of 18.6% in net income for the second quarter, benefit from strong growth in business of medicines and special plastics, while increased earnings forecast in 2016.
The good results come at a time when Bayer, owner of the Painkiller Aspirin, try to continue what may be the largest acquisition in its history — an offer of $ 65 billion by Monsanto — and investors and analysts follow closely to see if the German company has the resources to cover your offer by the American giant of agrochemicals.
The German company''s net profit for the period ended June 30 was 1.38 billion euros, compared to 1.15 billion euros a year earlier, in line with the forecasts of analysts, who expected profit of 1.38 billion euros, according to recent research conducted by "The Wall Street Journal.
Bayer has raised its profit forecast for the year and intends to expand the result reported that before interest, taxes, depreciation and amortization (Ebitda) before special items in a "high percentage of a digit.
However, the company lowered its sales forecast to 2016, for a range of 46 billion euros 47 billion euros, compared to the previous forecast of sales over 47 billion euros.
Sales in the quarter fell slightly, to 11.83 billion euros, down by almost all divisions, with the exception of pharmaceuticals. The Division''s sales of medicines soared 5.5 percent to 4.1 billion euros, benefited by the successful launch of new remedies champions of sale, including the anticoagulant Xarelto.
Ebitda before special items grew by 5.7% to 3.05 billion euros, driven by pharmaceutical activity and special plastics unit, recently separated in Covestro AG.
However, the Crop Science Division showed Ebitda before special items in the quarter, 8.2% lower for 663,000,000 euros, amid difficult market conditions in agriculture. The deal, however, experienced strong sales growth in the Asia-Pacific region, indicated the company.
In relation to the provision by Monsanto, Bayer announced that it will pursue the business, despite the concerns of some shareholders that the acquisition could reshape the portfolio of the company to the detriment of lucrative pharmaceutical division.