Bayer takes special charges on oral contraceptives
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Bayer AG today reported special charges of 1.7 billion euros ($2.2 billion) on 2012 earnings, including 1.2 billion euros set aside to settle litigation involving its Yaz and Yasmin oral contraceptives.
The German-based drug and chemicals maker is battling claims and lawsuits that allege the birth control products caused blood clots that were sometimes fatal.
Bayer has 15,300 employees in North America and some headquarters operations in Robinson although its top U.S. executive has been based in New Jersey since last July.
Profit for the year slipped 1 percent to 2.5 billion euros while global sales rose 9 percent to a record 39.8 billion euros on gains in all of Bayer's business segments.
Sales in health care rose 8.4 percent, sales in the crop science unit that makes agricultural products rose 15.5 percent, and sales in material science which includes chemicals and plastics were up 6.2 percent.
In North America, sales jumped by percent to 9.6 billion euros ($12.3 billion).
First Published February 28, 2013 11:21 am