Bayer to Cut 2017 Forecasts as Crop Unit Struggles in Brazil

Bayer to Cut 2017 Forecasts as Crop Unit Struggles in Brazil


Bayer AG plans to cut its sales and profit forecasts for this year because of unexpectedly high stockpiling in Brazil of its crop-protection products. Full-year earnings before interest, taxes, depreciation and amortization and other special costs will be reduced by 300 million euros to 400 million euros, the Leverkusen, Germany-based company said in a The dimmer outlook comes even as the conglomerate forges ahead with its proposed $66 billion acquisition of Monsanto Co., the world's largest seed company.



from Biotech News