Bayer posted a four-quarter loss of 145 million euros ($201 million), compared with a 153 million euro profit ($212 million) a year earlier, as the company recorded a 405 million-euro ($560 million) impairment charge related to its Schering drug brand, which it no longer plans to use. Sales in Bayer’s drug unit rose 7.3 percent to 4.5 billion euros ($6.2 billion), and the company indicated that for 2011, it expects sales for the unit to increase by a low to mid-single-digit percentage. Overall sales rose 14 percent to 9 billion euros ($12.4 billion), exceeding analysts' estimates of 8.5 billion euros ($11.8 billion).
Reference Articles
Bayer: operating performance on track - (Bayer)
Bayer Reports Unexpected Fourth-Quarter Loss on Schering Brand Writedown - (Bloomberg)
Charges push Bayer to 4th quarter loss - (CNBC)
Bayer Swings To Loss As High Charges Hit Results - (SmartMoney)
Bayer Slips To Loss In Q4 - (Stock Markets Review)
Bayer Swings to Loss - (The Wall Street Journal)
**Published in "First Word"
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