The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0731 GMT – Bayer posted a better-than-expected result in its agriculture business, but that wasn’t enough to offset weak margins in the pharmaceuticals division, analysts at Bernstein say in a note. The German agricultural and pharmaceutical giant did well with its Crop Science business despite a normalization in glyphosate prices, the analysts say. Still, the company took a EUR700 million hit from lower prices of the herbicide just in the first quarter, and that is about half the impact that is expected in 2023, Bernstein says. On the pharmaceuticals side, sales came in 3.5 percentage points lighter than expected, driven by the performance of blood-thinning medication Xarelto, the analysts say. Shares trade 5% lower at EUR55.34.(cecilia.butini@wsj.com)
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