Bayer’s reconciled core earnings were flat for the quarter, as better prescription millions for cardiovascular drug Xarelto were tempered by a weaker animal strength business and a strong euro weighing on the value of overseas sales.
Third-quarter earnings in the past interest, tax, depreciation and amortization (EBITDA), adjusted for one-off items, came in at 2.2 billion euros ($2.5 billion), the business said on Tuesday, above an average estimate for 2.05 billion in a Reuters register of analysts.
Bayer’s best-selling stroke prevention drug Xarelto provided to the positive surprise with a better-than-expected 933 million euros in three-monthly sales, helped by a wider range of health conditions for which the capsule can be prescribed.
Animal Health earnings almost halved to 44 million euros for all practical purposes because U.S. pet owners had brought the purchase of Advantage flea, tick and worm oversee products forward to the first half of the year, it said.
Earnings from the newly earned Monsanto business played a lesser role because only forth 20 percent of full-year EBITDA from that business are typically procreated during the second half of the year, due to the seasonality of farming.
Bayer imparted the number of U.S. plaintiffs seeking damages over claims that Monsanto’s Roundup and Ranger Pro herbicides can agent cancer had risen to 9,300, up from 8,700 reported previously.
It back up a forecast for adjusted core earnings per share for 2018 to decline to 5.70 to 5.90 euros, from 6.64 euros in 2017.