FRANKFURT Feb 28 Germany's largest drugmaker
Bayer gave a 2013 underlying earnings outlook that
was slightly below analyst expectations amid fresh competition
for one of its most promising new drugs.
Bayer, which celebrates its 150th anniversary this year,
said it expected growth in adjusted earnings before interest,
taxes, depreciation and amortisation (EBITDA) in the mid
single-digit percentage range, where analysts had seen a gain of
about 8 percent.
Fourth-quarter adjusted EBITDA rose 18.4 percent to 1.825
billion euros ($2.39 billion), in line with the average estimate
in a Reuters poll.
Quarterly sales of 9.86 billion euros were slightly above
($1 = 0.7628 euros)
(Reporting by Ludwig Burger and Frank Siebelt)