Bayer Q3 net slips on fertilizers

FRANKFURT: German drugs and chemicals maker Bayer AG yesterday reported a 10 percent drop in third-quarter net income as strong sales in healthcare and pharmaceuticals were offset by weaker demand for fertilizers and materials.

Bayer, based in Leverkusen, said net income fell to 249 million euros ($374 million) in the July-September period from 277 million euros in the third quarter of 2008.

Revenue for the period was 7 percent lower at 7.4 billion euros compared with 8 billion euros in the third quarter of 2008.