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Bayer HealthCare
Sales of the Bayer HealthCare subgroup in the second quarter of 2008 came in at €3,734 million (+0.5 percent). On a currency- and portfolio-adjusted basis, sales rose by 6.6 percent, thanks to the positive performance of both segments’ businesses.
Bayer HealthCare increased second-quarter EBITDA before special items by 2.6 percent to €994 million (Q2 2007: €969 million). The gratifying performance of the business and the synergies from the integration of Schering AG, Germany, more than offset adverse shifts in currency parities and a substantial increase in marketing expenses related to the expansion of our activities in emerging countries and new product introductions. EBIT before special items, at €639 million, was level with the prior-year period. The special items totaling minus €126 million resulted from charges in connection with the acquisition and integration of Schering, the suspension of marketing for Trasylol® and litigations. EBIT advanced by a significant 19.0 percent to €513 million.
The names “Bayer Schering Pharma” or “Schering” as used in this report always refer to Bayer Schering Pharma AG, Berlin, Germany, or its predecessor, Schering AG, Berlin, Germany, respectively. The reference to Bayer Schering Pharma AG or Schering AG also includes business conducted by affiliated entities in countries outside Germany. Bayer Schering Pharma AG and Schering-Plough Corporation, New Jersey, U.S., are unaffiliated companies that have been totally independent of each other for many years.
Bayer HealthCare increased second-quarter EBITDA before special items by 2.6 percent to €994 million (Q2 2007: €969 million). The gratifying performance of the business and the synergies from the integration of Schering AG, Germany, more than offset adverse shifts in currency parities and a substantial increase in marketing expenses related to the expansion of our activities in emerging countries and new product introductions. EBIT before special items, at €639 million, was level with the prior-year period. The special items totaling minus €126 million resulted from charges in connection with the acquisition and integration of Schering, the suspension of marketing for Trasylol® and litigations. EBIT advanced by a significant 19.0 percent to €513 million.
The names “Bayer Schering Pharma” or “Schering” as used in this report always refer to Bayer Schering Pharma AG, Berlin, Germany, or its predecessor, Schering AG, Berlin, Germany, respectively. The reference to Bayer Schering Pharma AG or Schering AG also includes business conducted by affiliated entities in countries outside Germany. Bayer Schering Pharma AG and Schering-Plough Corporation, New Jersey, U.S., are unaffiliated companies that have been totally independent of each other for many years.
Pharmaceuticals
Sales in our Pharmaceuticals segment in the second quarter of 2008, at €2,584 million, matched those of the prior-year period. Adjusted for currency and portfolio effects, business expanded by 5.8 percent.
Sales of the Primary Care business unit receded by 3.9 percent in the second quarter, to €736 million (Q2 2007: €766 million). On a currency-adjusted (Fx adj.) basis, however, business expanded by 1.2 percent. Particularly strong sales gains were registered by Aspirin Cardio® (Fx adj. +22.2 percent) and Levitra® (Fx adj. +11.9 percent). Sales of Cipro®/Ciprobay® continued to decline due to generic competition (Fx adj. -13.8 percent).
The positive trend in the Women’s Healthcare business unit – particularly in the United States – continued in the second quarter of 2008, with sales up 10.9 percent to €723 million (Q2 2007: €652 million). Adjusted for shifts in exchange rates, business expanded by 18.5 percent. The strongest growth was recorded by the intra-uterine system Mirena®, sales of which climbed by 47.2 percent (Fx adj.). Business with the oral contraceptives of the Yasmin®/YAZ®/Yasminelle® product group once again climbed significantly year on year (Fx adj. +32.1 percent). The Mutual Recognition Procedure to gain marketing approval for YAZ® for the oral contraception indication in the European Union was successfully concluded in April 2008. YAZ® is to be launched on several major European markets in the fall of this year. In June 2008, Bayer and Barr Laboratories Inc. signed a supply and license agreement for Yasmin® and YAZ® for the United States. As of the end of June 2008, Bayer is supplying U.S. generics manufacturer Barr with a generic version of its oral contraceptive Yasmin®, which Barr will market solely in the United States. Irrespective of this, Bayer continues to pursue its appeal of a decision issued by a U.S. court in March 2008 invalidating the U.S. patent ‘531 for Yasmin®.
Sales of the Diagnostic Imaging business unit fell by 2.7 percent in the second quarter of 2008, to €321 million (Q2 2007: €330 million). Adjusted for currency and portfolio changes, business remained at the previous year’s level. Sales of Ultravist® rose by 8.9 percent after adjusting for shifts in exchange rates. On the other hand, business with our contrast agent Magnevist® shrank by a currency-adjusted 13.1 percent. This resulted primarily from the shift toward our other contrast agent Gadovist®. Sales of Iopamiron® fell by 15.5 percent (Fx adj.), due mainly to price declines in Japan. Sales of our subsidiary Medrad increased by 14.8 percent on a currency- and portfolio-adjusted basis. In April 2008 we completed the acquisition of U.S.-based Possis Medical, Inc., a supplier of thrombectomy systems to treat constricted or blocked arteries and veins.
Sales of the Primary Care business unit receded by 3.9 percent in the second quarter, to €736 million (Q2 2007: €766 million). On a currency-adjusted (Fx adj.) basis, however, business expanded by 1.2 percent. Particularly strong sales gains were registered by Aspirin Cardio® (Fx adj. +22.2 percent) and Levitra® (Fx adj. +11.9 percent). Sales of Cipro®/Ciprobay® continued to decline due to generic competition (Fx adj. -13.8 percent).
The positive trend in the Women’s Healthcare business unit – particularly in the United States – continued in the second quarter of 2008, with sales up 10.9 percent to €723 million (Q2 2007: €652 million). Adjusted for shifts in exchange rates, business expanded by 18.5 percent. The strongest growth was recorded by the intra-uterine system Mirena®, sales of which climbed by 47.2 percent (Fx adj.). Business with the oral contraceptives of the Yasmin®/YAZ®/Yasminelle® product group once again climbed significantly year on year (Fx adj. +32.1 percent). The Mutual Recognition Procedure to gain marketing approval for YAZ® for the oral contraception indication in the European Union was successfully concluded in April 2008. YAZ® is to be launched on several major European markets in the fall of this year. In June 2008, Bayer and Barr Laboratories Inc. signed a supply and license agreement for Yasmin® and YAZ® for the United States. As of the end of June 2008, Bayer is supplying U.S. generics manufacturer Barr with a generic version of its oral contraceptive Yasmin®, which Barr will market solely in the United States. Irrespective of this, Bayer continues to pursue its appeal of a decision issued by a U.S. court in March 2008 invalidating the U.S. patent ‘531 for Yasmin®.
Sales of the Diagnostic Imaging business unit fell by 2.7 percent in the second quarter of 2008, to €321 million (Q2 2007: €330 million). Adjusted for currency and portfolio changes, business remained at the previous year’s level. Sales of Ultravist® rose by 8.9 percent after adjusting for shifts in exchange rates. On the other hand, business with our contrast agent Magnevist® shrank by a currency-adjusted 13.1 percent. This resulted primarily from the shift toward our other contrast agent Gadovist®. Sales of Iopamiron® fell by 15.5 percent (Fx adj.), due mainly to price declines in Japan. Sales of our subsidiary Medrad increased by 14.8 percent on a currency- and portfolio-adjusted basis. In April 2008 we completed the acquisition of U.S.-based Possis Medical, Inc., a supplier of thrombectomy systems to treat constricted or blocked arteries and veins.
| Bayer HealthCare | 2nd Quarter 2007 | 2nd Quarter 2008 | Change | 1st Half 2007 | 1st Half 2008 | Change |
| € million | € million | % | € million | € million | % | |
| Sales | 3,717 | 3,734 | +0.5 | 7,327 | 7,465 | +1.9 |
| Pharmaceuticals | 2,583 | 2,584 | 0.0 | 5,078 | 5,198 | +2.4 |
| Consumer Health | 1,134 | 1,150 | +1.4 | 2,249 | 2,267 | +0.8 |
| Sales by Region | ||||||
| Europe | 1,566 | 1,538 | -1.8 | 3,061 | 3,164 | +3.4 |
| North America | 1,093 | 1,085 | -0.7 | 2,238 | 2,130 | -4.8 |
| Asia/Pacific | 523 | 545 | +4.2 | 989 | 1,071 | +8.3 |
| Latin America/Africa/Middle East | 535 | 566 | +5.8 | 1,039 | 1,100 | +5.9 |
| EBITDA1 | 788 | 887 | +12.6 | 1,571 | 1,857 | +18.2 |
| Special items | (181) | (107) | (346) | (187) | ||
| EBITDA before special items2 | 969 | 994 | +2.6 | 1,917 | 2,044 | +6.6 |
| EBITDA margin before special items | 26.1% | 26.6% | 26.2% | 27.4% | ||
| EBIT1 | 431 | 513 | +19.0 | 916 | 1,076 | +17.5 |
| Special items | (209) | (126) | (348) | (226) | ||
| EBIT before special items2 | 640 | 639 | -0.2 | 1,264 | 1,302 | +3.0 |
| Gross cash flow1 | 545 | 606 | +11.2 | 1,102 | 1,343 | +21.9 |
| Net cash flow1 | 284 | 154 | -45.8 | 667 | 731 | +9.6 |
1 for definition see Bayer Group Key Data.
2 for definition see also Calculation of EBIT(DA) Before Special Items.
2 for definition see also Calculation of EBIT(DA) Before Special Items.
| Pharmaceuticals | 2nd Quarter 2007 | 2nd Quarter 2008 | Change | 1st Half 2007 | 1st Half 2008 | Change |
| € million | € million | % | € million | € million | % | |
| Sales | 2,583 | 2,584 | 0.0 | 5,078 | 5,198 | +2.4 |
| Primary Care | 766 | 736 | -3.9 | 1,539 | 1,512 | -1.8 |
| Women’s Healthcare | 652 | 723 | +10.9 | 1,279 | 1,419 | +10.9 |
| Diagnostic Imaging (including Medrad) | 330 | 321 | -2.7 | 637 | 619 | -2.8 |
| Specialized Therapeutics | 310 | 329 | + 6.1 | 613 | 656 | +7.0 |
| Hematology/Cardiology | 271 | 188 | -30.6 | 539 | 443 | -17.8 |
| Oncology | 188 | 222 | +18.1 | 347 | 424 | +22.2 |
| Dermatology (Intendis) | 66 | 65 | -1.5 | 124 | 125 | +0.8 |
| Sales by Region | ||||||
| Europe | 1,114 | 1,061 | -4.8 | 2,153 | 2,201 | +2.2 |
| North America | 696 | 705 | +1.3 | 1,450 | 1,412 | -2.6 |
| Asia/Pacific | 438 | 449 | +2.5 | 817 | 878 | +7.5 |
| Latin America/Africa/Middle East | 335 | 369 | +10.1 | 658 | 707 | +7.4 |
| EBITDA1 | 530 | 672 | +26.8 | 1,076 | 1,386 | +28.8 |
| Special items | (181) | (72) | (346) | (152) | ||
| EBITDA before special items2 | 711 | 744 | +4.6 | 1,422 | 1,538 | +8.2 |
| EBITDA margin before special items | 27.5% | 28.8% | 28.0% | 29.6% | ||
| EBIT1 | 207 | 334 | +61.4 | 488 | 675 | +38.3 |
| Special items | (209) | (91) | (348) | (191) | ||
| EBIT before special items2 | 416 | 425 | +2.2 | 836 | 866 | +3.6 |
| Gross cash flow1 | 381 | 447 | 17.3 | 771 | 991 | +28.5 |
| Net cash flow1 | 202 | 78 | -61.4 | 481 | 493 | +2.5 |
1 for definition see Bayer Group Key Data.
2 for definition see also Calculation of EBIT(DA) Before Special Items.
2 for definition see also Calculation of EBIT(DA) Before Special Items.
The Specialized Therapeutics business unit saw sales expand by 6.1 percent to €329 million (Q2 2007: €310 million). Adjusted for changes in currency parities, business expanded by 12.5 percent. Sales of Betaferon®/Betaseron® moved forward by a currency-adjusted 13.6 percent. The findings of a Phase IIb clinical study investigating the efficacy of Spheramine® in Parkinson’s patients did not meet the primary or secondary endpoints following the 12-month observation period. As a result, a €20 million write-down was made in respect of intangible assets capitalized for this research project upon the acquisition of Schering, Germany.
In the Hematology/Cardiology business unit, sales declined by 30.6 percent to €188 million (Q2 2007: €271 million). On a currency- and portfolio-adjusted basis, sales dropped by 24.6 percent. The reason for this was the worldwide suspension of marketing in November 2007 for Trasylol®, the product to control loss of blood during coronary bypass operations. Furthermore, business with Kogenate® receded by a currency-adjusted 6.7 percent, mainly due to our marketing partner’s order pattern. In July 2008, Bayer HealthCare acquired the hematology portfolio of the U.S. company Maxygen Inc. for US$ 90 million plus milestone payments of up to US$ 30 million, thus enhancing its future perspectives in the hemophilia market. Included in the scope of the transaction is the innovative recombinant Factor VIIa protein MAXY-VII, for which a Phase I development program is expected to begin in the third quarter of 2008.
The Oncology business unit saw sales expand by 18.1 percent to €222 million (Q2 2007: €188 million). On a currency-adjusted basis the increase came to 25.0 percent. This gratifying expansion was driven by our cancer drug Nexavar®, which posted a 90.4 percent increase in sales after adjusting for shifts in exchange rates. During 2007 and the first half of 2008, we received marketing authorization for Nexavar® in various countries, most recently China, to treat renal cell carcinoma and/or hepatocellular carcinoma.
Our dermatology business (Intendis) posted sales of €65 million (-1.5 percent). On a currency-adjusted basis, sales rose by 2.4 percent.
In the Hematology/Cardiology business unit, sales declined by 30.6 percent to €188 million (Q2 2007: €271 million). On a currency- and portfolio-adjusted basis, sales dropped by 24.6 percent. The reason for this was the worldwide suspension of marketing in November 2007 for Trasylol®, the product to control loss of blood during coronary bypass operations. Furthermore, business with Kogenate® receded by a currency-adjusted 6.7 percent, mainly due to our marketing partner’s order pattern. In July 2008, Bayer HealthCare acquired the hematology portfolio of the U.S. company Maxygen Inc. for US$ 90 million plus milestone payments of up to US$ 30 million, thus enhancing its future perspectives in the hemophilia market. Included in the scope of the transaction is the innovative recombinant Factor VIIa protein MAXY-VII, for which a Phase I development program is expected to begin in the third quarter of 2008.
The Oncology business unit saw sales expand by 18.1 percent to €222 million (Q2 2007: €188 million). On a currency-adjusted basis the increase came to 25.0 percent. This gratifying expansion was driven by our cancer drug Nexavar®, which posted a 90.4 percent increase in sales after adjusting for shifts in exchange rates. During 2007 and the first half of 2008, we received marketing authorization for Nexavar® in various countries, most recently China, to treat renal cell carcinoma and/or hepatocellular carcinoma.
Our dermatology business (Intendis) posted sales of €65 million (-1.5 percent). On a currency-adjusted basis, sales rose by 2.4 percent.
| Best-Selling Pharmaceutical Products | 2nd Quarter 2007 | 2nd Quarter 2008 | Change | Currency- adjusted change | 1st Half 2007 | 1st Half 2008 | Change | Currency- adjusted change |
| € million | € million | % | % | € million | € million | % | % | |
| Yasmin®/YAZ® /Yasminelle® (Women’s Healthcare) | 250 | 305 | +22.0 | +32.1 | 490 | 602 | +22.9 | +32.7 |
| Betaferon®/Betaseron® (Specialized Therapeutics) | 256 | 274 | +7.0 | +13.6 | 500 | 548 | +9.6 | +15.9 |
| Kogenate® (Hematology/ Cardiology) | 210 | 182 | -13.3 | -6.7 | 411 | 415 | +1.0 | +7.1 |
| Adalat® (Primary Care) | 162 | 158 | -2.5 | +2.8 | 307 | 308 | +0.3 | +4.3 |
| Avalox®/Avelox® (Primary Care) | 90 | 90 | 0.0 | +7.8 | 218 | 233 | +6.9 | +13.9 |
| Mirena® (Women’s Healthcare) | 88 | 118 | +34.1 | +47.2 | 169 | 230 | +36.1 | +48.9 |
| Nexavar® (Oncology) | 60 | 108 | +80.0 | +90.4 | 107 | 209 | +95.3 | +107.7 |
| Levitra® (Primary Care) | 81 | 84 | +3.7 | +11.9 | 165 | 166 | +0.6 | +7.9 |
| Cipro®/Ciprobay® (Primary Care) | 93 | 77 | -17.2 | -13.8 | 201 | 158 | -21.4 | -18.0 |
| Glucobay® (Primary Care) | 79 | 74 | -6.3 | -2.1 | 151 | 154 | +2.0 | +5.9 |
| Ultravist® (Diagnostic Imaging) | 64 | 65 | +1.6 | +8.9 | 119 | 133 | +11.8 | +18.0 |
| Aspirin Cardio® (Primary Care) | 57 | 67 | +17.5 | +22.2 | 111 | 131 | +18.0 | +22.3 |
| Magnevist® (Diagnostic Imaging) | 74 | 59 | -20.3 | -13.1 | 154 | 119 | -22.7 | -16.8 |
| Iopamiron® (Diagnostic Imaging) | 57 | 48 | -15.8 | -15.5 | 104 | 91 | -12.5 | -12.0 |
| Diane® (Women’s Healthcare) | 43 | 41 | -4.7 | -2.0 | 88 | 82 | -6.8 | -4.8 |
| Total | 1,664 | 1,750 | +5.2 | +12.2 | 3,295 | 3,579 | +8.6 | +15.1 |
| Proportion of Pharmaceuticals sales | 64% | 68% | 65% | 69% |
EBITDA before special items in the Pharmaceuticals segment improved by 4.6 percent in the second quarter of 2008 to €744 million (Q2 2007: €711 million). Contributing to the increase were the growth in business and, in particular, the synergies already realized from the integration of Schering AG, Germany. Earnings were hampered by negative currency effects and by higher marketing costs, mainly in connection with product introductions and the expansion of our activities in emerging markets such as China, Russia and Brazil. EBIT before special items came in at €425 million, up 2.2 percent from the prior-year period. The net special charges of €91 million comprised €54 million in expenses concerning the suspension of marketing for Trasylol® and a €37 million net charge related to the acquisition and integration of Schering AG, Germany, after income of €69 million from the sale of buildings. EBIT climbed by 61.4 percent to €334 million (Q2 2007: €207 million).
Sales of the Pharmaceuticals segment in the first half of 2008 climbed by 2.4 percent to €5,198 million (H1 2007: €5,078 million). Adjusted for currency and portfolio changes, business was up by 7.9 percent. This was attributable especially to the pleasing growth recorded for Yasmin®/YAZ®/Yasminelle® (Fx adj. +32.7 percent), Mirena® (Fx adj. +48.9 percent) and Nexavar® (Fx adj. +107.7 percent). However, we experienced the anticipated negative effects from Trasylol® and Cipro®/Ciprobay® (Fx adj. -18.0 percent). In the Pharmaceuticals segment, first-half EBITDA before special items improved by 8.2 percent to €1,538 million (H1 2007: €1,422 million). EBIT before special items rose by 3.6 percent to €866 million (H1 2007: €836 million). The net special charges of €191 million resulted from the suspension of marketing for Trasylol® and a net charge related to the acquisition and integration of Schering AG, Germany. EBIT advanced by 38.3 percent to €675 million (H1 2007: €488 million).
Sales of the Pharmaceuticals segment in the first half of 2008 climbed by 2.4 percent to €5,198 million (H1 2007: €5,078 million). Adjusted for currency and portfolio changes, business was up by 7.9 percent. This was attributable especially to the pleasing growth recorded for Yasmin®/YAZ®/Yasminelle® (Fx adj. +32.7 percent), Mirena® (Fx adj. +48.9 percent) and Nexavar® (Fx adj. +107.7 percent). However, we experienced the anticipated negative effects from Trasylol® and Cipro®/Ciprobay® (Fx adj. -18.0 percent). In the Pharmaceuticals segment, first-half EBITDA before special items improved by 8.2 percent to €1,538 million (H1 2007: €1,422 million). EBIT before special items rose by 3.6 percent to €866 million (H1 2007: €836 million). The net special charges of €191 million resulted from the suspension of marketing for Trasylol® and a net charge related to the acquisition and integration of Schering AG, Germany. EBIT advanced by 38.3 percent to €675 million (H1 2007: €488 million).
Consumer Health
Sales in the Consumer Health segment amounted to €1,150 million in the second quarter of 2008 (Q2 2007: €1,134 million). Adjusted for currency and portfolio effects, business expanded by 8.3 percent. All divisions contributed to this increase.
In the Consumer Care Division, sales rose by 2.7 percent to €641 million (Q2 2007: €624 million). Adjusted for currency and portfolio effects, business was up by 8.6 percent. Particularly good growth was achieved by Canesten® (currency-adjusted: +23.4 percent), Aleve®/naproxen (currency-adjusted: +19.4 percent) and the products from the Bepanthen®/Bepanthol® line (currency-adjusted: +13.9 percent). In June 2008 we completed the acquisition of the eastern European over-the-counter (OTC) medicines business of Sagmel, Inc. In July 2008, after receiving the necessary regulatory approvals, we acquired the over-the-counter cough and cold portfolio of Chinese-based Topsun Science and Technology Qidong Gaitianli Pharmaceutical Co., Ltd. These acquisitions strengthen Bayer HealthCare’s presence in eastern Europe and China, which are among the world’s fastest growing OTC markets.
Our Diabetes Care Division posted second-quarter sales of €249 million (+2.0 percent). Adjusted for shifts in exchange rates, business expanded by 10.0 percent. This performance was attributable largely to the successful marketing of our Contour® blood glucose monitoring systems (currency-adjusted: +22.3 percent), which are replacing the older Elite® systems (currency-adjusted: -25.4 percent).
Sales of the Animal Health Division slipped by 2.3 percent to €260 million (Q2 2007: €266 million). On a currency-adjusted basis, business expanded by 6.0 percent. Growth rates were particularly high in the Asia-Pacific region. Business with the Advantage® product line rose by a currency-adjusted 6.2 percent.
EBITDA before special items of the Consumer Health segment in the second quarter came to €250 million (Q2 2007: €258 million). Negative currency effects and integration costs for the OTC business acquired from Sagmel were nearly offset by the growth in business. EBIT before special items fell by 4.5 percent to €214 million. Special charges of €35 million were recorded in connection with litigations. EBIT dropped by €45 million to €179 million (Q2 2007: €224 million).
In the first half of 2008, sales of the Consumer Health segment increased by €18 million to €2,267 million. The currency-adjusted increase came to 6.9 percent. EBITDA before special items improved by 2.2 percent to €506 million (H1 2007: €495 million). EBIT before special items grew by €8 million to €436 million (H1 2007: €428 million). After special items, EBIT came in at €401 million (H1 2007: €428 million).
In the Consumer Care Division, sales rose by 2.7 percent to €641 million (Q2 2007: €624 million). Adjusted for currency and portfolio effects, business was up by 8.6 percent. Particularly good growth was achieved by Canesten® (currency-adjusted: +23.4 percent), Aleve®/naproxen (currency-adjusted: +19.4 percent) and the products from the Bepanthen®/Bepanthol® line (currency-adjusted: +13.9 percent). In June 2008 we completed the acquisition of the eastern European over-the-counter (OTC) medicines business of Sagmel, Inc. In July 2008, after receiving the necessary regulatory approvals, we acquired the over-the-counter cough and cold portfolio of Chinese-based Topsun Science and Technology Qidong Gaitianli Pharmaceutical Co., Ltd. These acquisitions strengthen Bayer HealthCare’s presence in eastern Europe and China, which are among the world’s fastest growing OTC markets.
Our Diabetes Care Division posted second-quarter sales of €249 million (+2.0 percent). Adjusted for shifts in exchange rates, business expanded by 10.0 percent. This performance was attributable largely to the successful marketing of our Contour® blood glucose monitoring systems (currency-adjusted: +22.3 percent), which are replacing the older Elite® systems (currency-adjusted: -25.4 percent).
Sales of the Animal Health Division slipped by 2.3 percent to €260 million (Q2 2007: €266 million). On a currency-adjusted basis, business expanded by 6.0 percent. Growth rates were particularly high in the Asia-Pacific region. Business with the Advantage® product line rose by a currency-adjusted 6.2 percent.
EBITDA before special items of the Consumer Health segment in the second quarter came to €250 million (Q2 2007: €258 million). Negative currency effects and integration costs for the OTC business acquired from Sagmel were nearly offset by the growth in business. EBIT before special items fell by 4.5 percent to €214 million. Special charges of €35 million were recorded in connection with litigations. EBIT dropped by €45 million to €179 million (Q2 2007: €224 million).
In the first half of 2008, sales of the Consumer Health segment increased by €18 million to €2,267 million. The currency-adjusted increase came to 6.9 percent. EBITDA before special items improved by 2.2 percent to €506 million (H1 2007: €495 million). EBIT before special items grew by €8 million to €436 million (H1 2007: €428 million). After special items, EBIT came in at €401 million (H1 2007: €428 million).
| Consumer Health | 2nd Quarter 2007 | 2nd Quarter 2008 | Change | 1st Half 2007 | 1st Half 2008 | Change |
| € million | € million | % | € million | € million | % | |
| Sales | 1,134 | 1,150 | +1.4 | 2,249 | 2,267 | +0.8 |
| Consumer Care | 624 | 641 | +2.7 | 1,283 | 1,296 | +1.0 |
| Diabetes Care | 244 | 249 | +2.0 | 470 | 476 | +1.3 |
| Animal Health | 266 | 260 | -2.3 | 496 | 495 | -0.2 |
| Sales by Region | ||||||
| Europe | 452 | 477 | +5.5 | 908 | 963 | +6.1 |
| North America | 397 | 380 | -4.3 | 788 | 718 | -8.9 |
| Asia/Pacific | 85 | 96 | +12.9 | 172 | 193 | +12.2 |
| Latin America/Africa/Middle East | 200 | 197 | -1.5 | 381 | 393 | +3.1 |
| EBITDA1 | 258 | 215 | -16.7 | 495 | 471 | -4.8 |
| Special items | 0 | (35) | 0 | (35) | ||
| EBITDA before special items2 | 258 | 250 | -3.1 | 495 | 506 | +2.2 |
| EBITDA margin before special items | 22.8% | 21.7% | 22.0% | 22.3% | ||
| EBIT1 | 224 | 179 | -20.1 | 428 | 401 | -6.3 |
| Special items | 0 | (35) | 0 | (35) | ||
| EBIT before special items2 | 224 | 214 | -4.5 | 428 | 436 | +1.9 |
| Gross cash flow1 | 164 | 159 | -3.1 | 331 | 352 | +6.3 |
| Net cash flow1 | 82 | 76 | -7.3 | 186 | 238 | +28.0 |
1 for definition see Bayer Group Key Data.
2 for definition see also Calculation of EBIT(DA) Before Special Items.
2 for definition see also Calculation of EBIT(DA) Before Special Items.
| Best-Selling Consumer Health Products | 2nd Quarter 2007 | 2nd Quarter 2008 | Change | Currency- adjusted change | 1st Half 2007 | 1st Half 2008 | Change | Currency- adjusted change |
| € million | € million | % | % | € million | € million | % | % | |
| Contour® 1 (Diabetes Care) | 129 | 145 | +12.4 | +22.3 | 235 | 273 | +16.2 | +24.8 |
| Aspirin® 2 (Consumer Care) | 107 | 105 | -1.9 | +4.6 | 220 | 219 | -0.5 | +5.9 |
| Advantage® product line (Animal Health) | 105 | 100 | -4.8 | +6.2 | 180 | 177 | -1.7 | +7.9 |
| Aleve®/naproxen (Consumer Care) | 55 | 57 | +3.6 | +19.4 | 124 | 105 | -15.3 | -3.5 |
| Canesten® (Consumer Care) | 47 | 54 | +14.9 | +23.4 | 90 | 101 | +12.2 | +19.4 |
| Bepanthen®/Bepanthol® (Consumer Care) | 40 | 45 | +12.5 | +13.9 | 76 | 91 | +19.7 | +20.5 |
| Baytril® (Animal Health) | 33 | 31 | -6.1 | -0.4 | 73 | 69 | -5.5 | +0.9 |
| Supradyn® (Consumer Care) | 32 | 33 | +3.1 | +4.1 | 65 | 68 | +4.6 | +7.4 |
| Breeze® 1 (Diabetes Care) | 38 | 34 | -10.5 | -0.7 | 81 | 68 | -16.0 | -9.4 |
| Elite® 1 (Diabetes Care) | 44 | 31 | -29.5 | -25.4 | 88 | 63 | -28.4 | -25.8 |
| Total | 630 | 635 | +0.8 | +9.1 | 1,232 | 1,234 | +0.2 | +7.2 |
| Proportion of Consumer Health sales | 56% | 55% | 55% | 54% |
1 previously included with the Ascensia® product family
2 total Aspirin® second-quarter sales = €172 million (Q2 2007: €164 million), first-half sales = €350 million (H1 2007: €331 million) including Aspirin Cardio®, which is reflected in sales of the Pharmaceuticals segment
2 total Aspirin® second-quarter sales = €172 million (Q2 2007: €164 million), first-half sales = €350 million (H1 2007: €331 million) including Aspirin Cardio®, which is reflected in sales of the Pharmaceuticals segment
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