Bayer investors concerned soccer transfers inflated earnings, shares drop

FRANKFURT: Investor concerns that Bayer’s earnings were inflated by soccer player transfer fees rather than supported by its core health care and agriculture businesses helped send its shares plummeting nearly 5 percent to a one-month low on Wednesday. The German maker of pharmaceuticals and crop protection products reported in unscheduled preliminary results last week that second-quarter operating income, adjusted for some items, came in at a better-than-expected 2.1 billion euros ($2.43 billion).

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