LEVERKUSEN: Germany's largest drugmaker Bayer said it expects underlying core earnings to increase by more than 10 percent this year, banking on a boost from new drugs such as stroke prevention pill Xarelto.
The inventor of Aspirin and polyurethane foams said on Thursday adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) were set to grow in the low- to mid-teens percentage range this year this year, based on the assumption of a positive currency effect of about 2 percent.
Sales from the five most promising among its recently launched drugs, such as Xarelto and eye drug Eylea, would rise to about 4 billion euros ($4.55 billion) this year, up from 2.9 billion in 2014, it added.
Fourth-quarter adjusted EBITDA advanced 4.4 percent to 1.85 billion euros, falling short of the average estimate of 1.93 billion in a Reuters poll, as earnings declined at its plastics unit.
Quarterly net income more than halved to a less-than-expected 224 million euros, dragged lower by borrowing costs for the $14 billion acquisition of Merck & Co. Inc.'s consumer health business it wrapped up in October and interest costs for pension provisions.
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