Merck KGaA lifts FY guidance on surging demand for lab supplies

Written by on November 3, 2021

November 3, 2021

FRANKFURT (Reuters) – Germany’s Merck KGaA on Wednesday lifted its full-year profit forecast, citing a very strong performance at its Life Science unit which supplies materials and gear to COVID-19 vaccine makers and other pharmaceutical companies.

In an unscheduled statement, the diversified group said it now expects 2021 earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, to reach 6 billion to 6.3 billion euros ($7 billion to $7.3 billion), up from 5.2 billion in 2020.

It had previously targeted 5.6 billion to 6 billion euros.

($1 = 0.8633 euros)

(Reporting by Ludwig Burger, editing by Thomas Escritt, Elaine Hardcastle and Chris Reese)

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