Aflibercept sales fuel Bayer profit boost

Sales of aflibercept jumped 47% in the first quarter of 2016, helping Bayer achieve a 12.2% rise in prescription medicines and €3.9 billion in earnings.

The German-based company reported considerably higher sales of the anti-VEGF drug in all regions, particularly in Europe, Canada and Japan. The better-than-expected sales growth were announced by outgoing Bayer CEO, Marijn Dekkers. He will be replaced at the end of this month by Werner Baumann, a 28-year company veteran and current head of strategy.