Bayer profits fall 44% to €1.1 billion in first half

German pharmaceutical company Bayer closed the first half of the year with a 44% drop in profits compared to the same period last year, to €1.1 billion. The company's revenue also fell, though not as sharply, by around 1.7%, to €24.477 billion.

EBITDA (earnings before interest, taxes, depreciation and amortization) also showed a loss of 35.6% to 3.783 million euros.

The company closed the semester with a 7.3% reduction in its workforce, now having 89,556 workers.

The second quarter results were also not encouraging, with revenues falling 3.6% to 10,739, EBITDA falling 82.9% to 285 million euros and losses worsening to 199 million euros.

The pharmaceutical company presented its results after the US president threatened the industry with 250% tariffs . Donald Trump initially said he would impose a small tariff on the industry, but that it would rise within a year and a half to 150% and then to 250%.

Tump's goal with these tariffs is to attract investment from this sector to the country, as he wants pharmaceutical products to be manufactured in the United States. Currently, these products are not subject to any tariffs.