Bayer has unveiled a healthy set of financials for the third-quarter which reveal that new drugs, headed by Xarelto and Eylea, are driving growth.
Turnover slipped 0.2% to 9.64 billion euros as a result of currency and portfolio adjustments, or up 6% excluding those factors. Earnings before interest, taxes, depreciation, amortisation and special items rose 7.7% to 1.98 billion euros, despite negative currency effects of about 130 million euros.
Pharmaceutical revenues increased 3.1% to 2.82 billion euros, helped by the anticoagulant Xarelto (rivaroxaban, which shot up nearly 220% to 259 million euros. The eye drug Eylea (aflibercept) contributed 85 million euros and the new cancer treatments Xofigo (radium 223) and Stivarga (regorafenib) have started well, with sales of 12 millions and 51 million euros, respectively.
As for Bayer's more established products, the haemophilia agent Kogenate (recombinant antihaemophilic factor) rose 7.0% to 321 million euros, while Betaferon/Betaseron (interferon beta 1b) for multiple sclerosis, fell 12.3% to 256 million euros. The Yaz/Yasmin (drospirenone and ethinyl estradiol) franchise, fell 23.1% to 213 million euros due to generic competition in western Europe. Mirena, the firm’s levonorgestrel-releasing intrauterine contraceptive system, declined 9.8% to 165 million euros.
Nexavar (sorafenib), which is approved for liver as well as advanced kidney cancer, contributed 204 million euros, up 2.5%, while the erectile dysfunction drug Levitra (vardenafil) increased 2.7% to 77 million euros.
Chief executive Marijn Dekkers (pictured) said "our pharmaceuticals business posted strong growth in all regions". He added that combined peak sales potential of Xarelto, Eylea, Stivarga, Xofigo and Adempas (riociguat) for two forms of pulmonary hypertension is more than 5.5 billion euros.
Dr Dekkers went on to say that "there are even more projects with great potential in our pharmaceutical pipeline," in the areas of oncology, cardiology, haematology and gyneacology that Bayer hopes can be transitioned to Phase III by 2015.