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Reuters
Merck KGaA sees FY adjusted profit gains of up to 9% on lab demand
Germany’s Merck KGaA said it expects earnings growth of up to 9% this year, mainly driven by drugmakers’ demand for its laboratory gear business, but flagged risks related to lockdown measures in China. In a statement on Thursday, the diversified group predicted growth of 5% to 9%, excluding the effect of currency swings and any acquisitions, for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), with the Life Science division as a key growth driver. It said the forecast was based on expectations that energy and raw material prices remain high and that the COVID-19 lockdown in China remains locally restricted will be relaxed soon.
