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Bayer Q1 earnings up 16 percent on pharmaceuticals
John Macdougall | AFP/Getty Images. European bourses were higher during early afternoon trade on Friday as major central banks suggested the era of cheap money may be coming to an end. · CNBC
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Germany drugmaker Bayer (XETRA: BAYN-DE) reported 15.7 percent higher underlying core earnings for the first quarter, boosted by prescription drugs such as eye treatment Eylea.

First-quarter profit before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off items, rose to 3.4 billion euros ($3.8 billion), above average market expectations of 3.07 billion euros.

Bayer, the inventor of aspirin and maker of Yasmin birth control pills, said it still expected adjusted EBITDA to increase by a medium single-digit percentage this year, when excluding separately-listed plastics subsidiary Covestro.


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