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Germany's Merck raises 2024 forecast on healthcare, electronics units' performance
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Germany's Merck raises 2024 forecast on healthcare, electronics units' performance
Jul 26, 2024 10:49 AM

July 26 (Reuters) - Germany's Merck ( MRK ) on Friday

raised its forecast for the group, mainly driven by a strong

operating performance at its healthcare and electronics units.

The maker of pharmaceuticals, lab gear and specialty

chemicals now expects net sales to be between 20.7 billion euros

($22.49 billion) and 22.1 billion euros for 2024.

The healthcare unit's performance "more than offset the

provision equal to a mid-double-digit million euro amount

associated with xevinapant", the statement added.

Last month, the company said a clinical trial testing its

head and neck cancer drug, xevinapant, would be stopped for lack

of efficacy.

For the second quarter, the diversified group reported

net sales of 5.4 billion euros and adjusted earnings before

interest, income tax, depreciation and amortisation of 1.5

billion euros.

($1 = 0.9204 euros)

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