Bayer's first-quarter adjusted profit falls less than expected
FRANKFURT -Bayer beat first-quarter analyst forecasts as it reported a slight drop in adjusted earnings on Tuesday, providing a respite for the CEO's turnaround efforts.
"The Pharmaceuticals Division saw gains in growth and profitability, and the Crop Science Division outperformed in a difficult market," Bayer (OTC:CEO Bill Anderson said in March he would suspend for up to three years any preparations to break apart the German maker of pharmaceuticals, crop protection products and consumer health remedies.
Last month, he clearly won a confidence vote at his first annual general meeting at the helm of the embattled healthcare and agriculture group, defying a challenge from one German fund managing house.
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