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Stocks B / Bayer AG
|Subject: Bayer sees 2003 profit rise, settles Baycol case||Date: 4/25/2003 11:24 AM|
|Author: kcirtip||Number: 18 of 38|
COLOGNE, Germany, April 25 (Reuters) - Bayer AG forecast a double-digit rise in annual profit on Friday after a stronger first quarter and said it had settled out of court many more lawsuits over anti-cholesterol drug Baycol, lifting its shares.
LEVERKUSEN, Germany -(Dow Jones)- According to preliminary figures, the Bayer Group recorded sales of EUR 7.3 billion from continuing operations in the first quarter of 2003.
As the company announced, this represents a year-on-year increase of more than 4% after translation and an improvement of over 15% in local currencies.
Provisional first-quarter data so far available indicate that the operating result also exceeded the figure for the same period of 2002, which was EUR840 million.
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