Bayer Hopes Consumer Health Woes Are In Rear View Mirror As Business Returns To Growth
Bayer is starting to see green shoots of recovery after a prolonged period of declining sales and earnings at its Consumer Health business. Turnover improved by 2% in the second quarter, driven by gains in Europe and Latin America.
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Bayer Consumer Health's sales declined at a single-digit rate in the first quarter of 2019, as the business continued to battle challenges in Europe and the US. Undeterred by this slow start to the year, the German firm says Consumer Health's performance will begin to turnaround in the coming months.
Bayer's Consumer Health chief Heiko Schipper is hoping a focus on innovation and a leaner portfolio will help return the business to mid-single-digit growth by 2022. The German firm has identified its North American business as the 'key area to fix'.