Bayer : FY results due 1 March – Expected in-line/slightly above company guidance
>Pharma to have continued on the recovery path in Q4 - Following a 7.1% y-o-y excl. forex sales growth in Q3, we estimate the positive recovery trend to have continued in Q4 with estimated 6.2% y-o-y excl. forex sales growth (4.2% y-o-y reported). We continue to estimate Xarelto to grow (by 4% y-o-y). Eylea should have grown by 17% y-o-y in Q4 according to our model. On adjusted EBITDA though, we forecast a Margin of just 30.0% for Q4, in line with Q3 (30.1%), but bel...Bayer is a life sciences group based in Germany. Co.'s operations are organized along three divisions: Pharmaceuticals (engaged in prescription pharmaceuticals for cardiology and women's healthcare); Consumer Health (engaged in non-prescription products in dermatology, dietary supplement, analgesic, gastrointestinal, allergy, cold and flu, foot care, sun protection and cardiovascular risk prevention categories); and CropScience (engaged in the development of seeds and plant traits; crop protection; and for gardens, the green industry and non-agricultural pest control). Co. also maintains an Animal Health business unit engaged in the development of products for farm and companion animals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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