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Leverkusen (dpa) - The glyphosate litigation in the USA has caused the pharmaceutical and agrochemical group Bayer a high loss.
Last year, the group result was minus 10.5 billion euros, as the Leverkusen-based company announced on Thursday.
In 2019 there was still a profit of 4.1 billion euros.
The deep red numbers were mainly due to provisions for the US lawsuits for alleged cancer risks of glyphosate.
After all, Bayer sees a light in the tunnel on this issue, all that is missing for an important agreement with the plaintiffs is the green light of a judge - then this chapter would be largely ticked off for Bayer.
Bayer’s business was mixed in 2020.
Sales fell by 4.9 percent to 41.4 billion euros.
The main reason for this, however, are negative currency effects - because the value of currencies in Latin America fell, Bayer received fewer euros in the till.
Without currency effects and based on the same portfolio, it would even have been a small increase in sales of 0.6 percent.
Bayer spoke of an “operationally robust business development”.
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The businesses of the various corporate divisions had light and shadow.
The sale of prescription drugs was weak because many non-urgent treatments for people were postponed during Corona times - this reduced the need for Bayer products.
With over-the-counter products, however, Corona had a positive effect - many people bought such products to improve their health.
Bayer's agricultural business picked up after a weak phase towards the end of the year, but currencies such as the Brazilian real performed weakly.
© dpa-infocom, dpa: 210225-99-585058 / 2
Bayer Annual Report 2020
Bayer press release