Bayer's drug sales suffer due to bad press on Yaz blood clot risk
May 4th, 2010 by Jennifer Walker-Journey
Bayer boasted a 63.1 percent increase in net income for the first quarter of 2010, but the firm’s pharmaceutical sales were a big disappointment, according to PharmaTimes. Bayer posted increases in its earnings before interest, taxes, depreciation and amortization as well as in its group turnover. However Bayer’s health care sales stayed flat while pharmaceutical revenues fell a disappointing 2.2 percent.
The biggest disappointment on Bayer’s books was a 10.2 percent decrease in profits from sales of its blockbuster oral contraceptive, Yaz, also known as Yasmin and Yasminelle. Sales of the birth control pill, which combines drospirenone and ethinyl estradiol, have suffered in the U.S., according to Bayer, because “the discussion surrounding the thrombosis risk of contraceptives containing drospirenone.” Bayer says that it continues to believe that the risk profile is comparable to that of other combinations and “Yaz and Yasmin remain good choices for contraception when used as directed.”
Bayer is facing hundreds of lawsuits in the U.S. and beyond, claiming the company didn’t adequately warn consumers of an increased risk of serious health problems including stroke, heart attack, gallbladder problems and blood clots associated with Yaz.
As a result of the company’s weak pharmaceutical line, Bayer has lowered its sales guidance for the health care unit for 2010 to 3 percent from 5 percent. According to Bayer chairman Werner Wenning, “we are optimistic about the future and intend to build on the positive developments prior to 2009.”