Bayer Sees Light At End Of Consumer Turnaround Tunnel: Q3 Sales Grow 3.7%
Bayer consumer health segment shows 3.7% growth to $1.43bn on 9% growth in pain relief and 6.4% in allergy and cold. But North American business still faces challenges.
You may also be interested in...
Q4 sales in OTC allergy/cold segment, which includes the Claritin allergy and Afrin nasal congestion lines, grew 5% adjusted while dermatology sector with Bepanthen and Canesten skin care brands grew 3.8%. Adjusted for the impact of foreign exchange and portfolio changes, thouhg, consumer unit’s full-year sales were flat.
Bayer follows through on plans to divest Dr. Scholl’s after selling Coppertone business in May to focus on consumer lines such as Aleve oral analgesics, Claritin allergy treatments and Bayer Aspirin. Private equity firm Yellow Wood Partners creating stand-alone company to operate Dr. Scholl's.
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'.