BAYER SEES CIPRO SALES SLIPPING
Bayer's pharmaceutical sales were virtually flat during the second quarter, as antibiotic Cipro's patent expiration last June slashed more than 43 percent from the product's revenues year over year.
Cipro generated $114 million in revenues during the second quarter, down from $202 million in the same period of 2004. Overall, the German firm's pharmaceutical division saw sales edge up a mere .03 percent during the quarter.
However, Bayer's declining Cipro sales were offset by growth from several other drug products, including Trasylol (aprotinin bovine), Avelox (moxifloxacin HCl) and Levitra (vardenafil HCl). Sales of erectile dysfunction drug Levitra rose more than 57 percent during the second quarter, while sales of Trasylol, which helps control blood loss during surgery, rose 87 percent thanks to higher demand by U.S. wholesalers, the company said. Sales of Bayer's antibiotic Avelox rose nearly 42 percent during the quarter thanks to a "heavy flu season" in the U.S. and Europe. Avelox is used to treat adult respiratory infections.
In related news, Bayer said it had, as of June 30, paid nearly $1.14 billion and settled 3,107 claims related to its 2001 withdraw of the cholesterol-lowering drug Baycol (cerivastatin sodium). The company is still in litigation over Baycol, which caused some patients to develop rhabdomyolysis, a muscle-wasting disease that can lead to organ failure and death. There are still 5,986 pending suits against Bayer over the drug. Bayer took a charge in the second quarter of 24 million euros ($29.7 million) against current and future settlement and defense costs related to Baycol litigation.