Bayer Sees Positive Consumer Change From COVID-19 Despite Slowing Sales
Bayer says the growing interest in self-care triggered by the coronavirus outbreak is here to stay, with demand showing no sign of slowing for dietary supplements as consumers look to give their immune systems a boost. While Bayer benefited from this in the second quarter, sales across its other Consumer Health categories went into reverse as a result of lockdowns and social distancing measures.
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Major Europe-based consumer health players GSK, Sanofi, Bayer and Reckitt are all hoping for a sales boost in Q2 following a difficult Q1 due to the almost non-existent cough and cold season. This earnings preview highlights what to look out for as these four firms report their second-quarter results over the coming weeks.
Likely talking points when three of the biggest global consumer health players report Q1 results include: GSK's separation plan and the influence of a new major investor; Sanofi's program to divest over half of its OTC brands; and Bayer's ability to sustain higher sales of dietary supplements post-COVD-19.
Bayer stepped up its Consumer Health innovation efforts in 2020 in line with its turnaround plan for the business, and now has more than 100 projects in development.