Bayer profit soars in spite of forex drag

German chemicals and pharmaceuticals giant Bayer on Wednesday said that its profits soared in 2017 and expressed confidence that its planned mega-merger with US seeds and pesticides maker Monsanto will go ahead in 2018. Net profit at the maker of Aspirin jumped 62% to €7.3bn in 2017 . It “was a year of ups and downs on the operative level”, CEO Werner Baumann said, pointing to unfavourable currency effects of some €195m, mainly from the weaker Brazilian real and British pound.