Weed killer – glyphosate helps Bayer – Economy

A strong agricultural business helped Bayer to achieve good quarterly figures. “We are expecting an extremely strong financial year,” said CEO Werner Baumann. In the third quarter, the pharmaceutical and agricultural group fared much better than expected. A boost came primarily from higher prices for the weed killer glyphosate. Adjusted operating profit climbed a good 17 percent to EUR 2.45 billion, significantly exceeding analyst estimates. Sales increased by more than 15 percent to 11.28 billion euros. Bayer achieved a jump in earnings of a good third in the crop protection products and seeds business, despite higher returns of seeds, which led to a significant drop in sales in North America.

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