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news.Bayer's operating profits for the second quarter have jumped 30% on the back of strong cancer drug sales.
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Sales of cancer drug Nexavar jumped 161% to E60 million, which has contributed to Bayer’s healthcare division accounting for roughly 44% of group sales and half of underlying operating profit.
The German drug maker’s earnings before interest, tax and special items rose to E1.19 billion ($1.63bn) in the second quarter, which was slightly above the expected E1.13 billion.
Bayer’s acquisition of Schering for E17 billion last year has also given a boost to the company’s healthcare business results for the fourth full quarter.