Bayer AG (BAYN.DE) Stock Rises as New Drugs Propel Revenue Increases
7/31/2013 8:05:12 AM
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Bayer AG (BAYN) stock rose to a record as stronger-than-predicted demand for new drugs outweighed a drop at plastics revenue that the German manufacturer said makes its full-year sales forecast “ambitious.” Revenue from products including the Xarelto blood thinner and Eylea eye medicine “are progressing considerably better than expected,” Leverkusen-based Bayer said in a statement today. The company raised its forecast for sales from new drugs to 1.4 billion euros ($1.9 billion euros) from a previous estimate of 1 billion euros.
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