Bayer lowers sales forecasts

Bayer, Germany’s largest drugmaker, tempered its full-year sales outlook yesterday, saying unfavourable exchange rates were blunting the impact of robust sales of new drugs in the US, Latin America and Japan. The inventor of aspirin and maker of birth-control pill Yasmin said it now forecast full-year sales of about €40bn (£33.8bn), against a previous target of €40bn-€41bn, despite reporting better-than-expected quarterly earnings.