Successful Innovation And Supplement Gains Drive 'Exceptional' Q3 For Bayer
Successful launches and increased demand for dietary supplements helped to drive up Bayer's Consumer Health's sales double-digits in Q3. As a consequence, the German firm has raised its 2021 sales guidance for Consumer Health for the second time so far this year.
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The first year of the pandemic saw a move among consumers towards prevention and wellness under the banner of "self-care". In 2021, the "self-care movement" really started to gain momentum as these new healthcare habits endured, and companies responded with more wellness options, in some cases even pivoting towards becoming pure self-care players.
Major Europe-based consumer health players GSK, Sanofi, Bayer and Reckitt feature in this earnings preview, which highlights what to look out for as these four firms report their Q4 and annual results over the coming weeks.
Bayer believes its Consumer Health business has the potential to grow at twice the rate of the global market in 2021 following a double-digit rise in sales in the second quarter.