Aleve rebound
This article was originally published in The Tan Sheet
Executive Summary
First-quarter sales of Bayer's Aleve (naproxen sodium) jumped 90% to $65.9 mil. compared with the prior-year quarter, recovering from concerns related to COX-2 drugs and a possible NSAID class effect, the firm reported during an April 27 earnings call. Aleve became the firm's second best-selling consumer care product after aspirin, which posted quarterly sales of $195.1 bil., Bayer said. Consumer Care segment sales grew 22.8% to $798 mil. due to "rapid expansion" in Europe and North America, with the acquisition of Roche's OTC unit as a contributing factor. Overall, Bayer grew 12% to $9.32 bil., "mainly attributable" to Healthcare gains...