Merck KGaA raises 2021 profit forecast on laboratory supply demand By Reuters


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© Reuters. FILE PHOTO: A logo of pharmaceutical and chemical group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS / Ralph Orlowski / File Photo

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By Ludwig Burger

FRANKFURT (Reuters) – Germany’s Merck KGaA raised its full-year profit forecast on Wednesday, citing a very good performance from its Life Science unit, which supplies materials and equipment to COVID-19 vaccine makers and other drug manufacturers.

The diversified group said in an unscheduled statement that it now expects 2021 earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for special items, to reach € 6 billion to € 6.3 billion. (7 to 7.3 billion dollars), against 5.2 billion in 2020.

It previously targeted 5.6 billion to 6 billion euros.

Third-quarter adjusted EBITDA fell to 1.55 billion euros, from 1.7 billion a year earlier, but topped the analyst consensus of 1.52 billion published on the Merck website.

Merck said it will release detailed results as scheduled on November 11.

($ 1 = € 0.8633)

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