Bayer Benefits From Diversification, Despite Flat Pharma Growth in 2010
This article was originally published in The Pink Sheet Daily
Firm's ability to pursue smaller acquisitions or partnerships is improving because of a reduction in net debt.
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Sanofi's sales declined by 1% in 2010 and net income increased by 2.6%, although €2 billion in sales were lost to generics during the year.
The news eclipses reports of a strong 2009, in which Novartis received 30 major regulatory approvals, and saw sales grow across major divisions
$19. 5 bil. offer by Bayer will likely thwart hostile takeover of Schering by Merck KgaA.