Business
Merck KGaA forecasts strong profit growth in healthcare and laboratory equipment
By Ludwig Burger
FRANKFURT, March 5 (Reuters) – Merck KGaA MRCG.DEsaid core profits are expected to experience "strong" growth in 2020 after adjusting for point variations and currency fluctuations, but it should revise its targets if the coronavirus epidemic does not start to subside from the month next.
the German says the business Thursday he was working on the assumption that the coronavirus epidemic would peak in the first quarter and subside in the second, but impact on his business was difficult to determine.
"If the crisis were to worsen or trigger a global recession, the company would adjust its business forecasts," he said in a statement.
He said sales of prescription drugs and laboratory equipment would help drive growth in 2020.
Fourth quarter earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for exceptional items, increased 27% to 1.21 billion euros ($ 1.35 billion), exceeding an average analyst estimates 1.15 billion euros in a Refinitiv survey.
This is explained by sales of Merck's new pill for multiple sclerosis Mavenclad, which almost quadrupled from the previous year to reach 127 million euros in the fourth quarter, and by adding semiconductor material manufacturer Versum, which the company acquired in October.
Merck's Life Science unit, the world's second largest manufacturer of laboratory equipment and supplies, benefited from the modernization of its production and research equipment by customers in the biotechnology industry.
($ 1 = 0.8983 euros)
(Report by Ludwig Burger Edition by Michelle Martin)
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The views and opinions expressed here are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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