LEVERKUSEN, Germany (Reuters) - German drugmaker Bayer’s adjusted core earnings slipped 1.3 percent in the fourth quarter, as it tries to overcome weak demand for crop protection products in Brazil and a drop in sales of consumer care products.
Bayer’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 1.78 billion euros ($2.18 billion) for the quarter, slightly lower than the average forecast by analysts of 1.8 billion euros.
It said 2018 adjusted EBITDA would be at the prior-year level, held back by a burden of about 300 million euros from a warning letter by the U.S. Food and Drug Administration.
($1 = 0.8177 euros)
Reporting by Ludwig BurgerEditing by Maria Sheahan