German chemical maker Bayer saw its earnings slow in Q3 2018, partly due to a one-off gain in 2017 and reported after-tax profits of €2.89bn ($3.27bn), compared with €3.88bn the year before. Sales for the quarter increased to €9.91bn, up from €8.03bn a year earlier, while pre-tax gains for the sale of several crop science assets to BASF were €3.12bn. The company said it expects sales growth this year, but also warned that “strong competition is likely to continue as new products enter the market.”
German chemical maker Bayer saw its earnings slow in Q3 2018, partly due to a one-off gain in 2017 and reported after-tax profits of €2.89bn ($3.27bn), compared with €3.88bn the year before. Sales for the quarter increased to €9.91bn, up from €8.03bn a year earlier, while pre-tax gains for the sale of several crop science assets to BASF were €3.12bn. Meanwhile, lawsuits against newly-acquired Monsanto's glyphosate-based weedkiller have grown to 9,300, but CEO Werner Baumann has said the company will vigorously defend itself due to its meritorious defences.