German pharmaceuticals and agriculture group Bayer on Tuesday raised its 2026 profit outlook, citing stronger-than-expected performance in its pharmaceuticals business, which delivered sales above market estimates in the third quarter, Reuters reported.

The company now expects adjusted core earnings, on a currency-adjusted basis, to reach between 9.8 billion euros and 10.3 billion euros in 2026. This compares with its previous forecast of 9.6 billion euros to 10.1 billion euros.

Global Market Today: Asian stocks slide as US chip selloff deepensBayer's pharmaceuticals business reported third-quarter sales of 4.68 billion euros, beating analysts' expectations by 5%, according to a poll conducted by Vara Research. The performance provided a boost to the group's overall outlook as its pharmaceutical division showed signs of improving growth momentum.

Chief Executive Officer Bill Anderson said the pharmaceuticals business had reached an important turning point in its growth trajectory, with the company beginning to see improvements in its performance.

Bayer also lowered its expectations for net financial debt for the full year by 1 billion euros. The company now expects net financial debt to range between 28 billion euros and 29 billion euros, compared with its earlier forecast.US stocks today: Nasdaq ends over 1% lower as AI worries persistThe improved earnings outlook and lower debt expectations signal stronger financial prospects for the German group as it seeks to strengthen its pharmaceutical business and improve its overall financial position, Reuters reported.(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)