April 11 (Reuters) -

German packaging and medical equipment maker Gerresheimer

expects diabetes and diet drugs to contribute 350

million euros ($376 million) of annual revenue by the 2026/27

financial year, CFO Bernd Metzner told Reuters after the company

reported first-quarter results on Thursday.

Obesity drugs such as Novo Nordisk's Wegovy and

Eli Lilly's ( LLY ) Zepbound are administered by injector pens

such as those made by Gerresheimer. Shares in Swiss rival

Ypsomed surged in September after it announced a

contract with Novo Nordisk for the "autoinjectors".

Analyst Victoria Lambert at Berenberg said the target seemed

realistic given Gerresheimer's production ramp-ups and contracts

won so far, half of which were likely to cover Novo Nordisk's

GLP-1 agonist Cagrisema.

Gerresheimer's first-quarter adjusted earnings before

interest, tax, depreciation and amortisation (EBITDA) were up

3.7% year on year at 80.9 million euros ($86.9 million),

matching the expectations of analysts polled by Vara Research.

The plastics and devices business, which makes syringes,

inhalers and injector pens, was up 26.5% at 59.3 million euros,

thanks to higher sales and a profit margin that improved to

22.9% from 20.5% a year earlier.

Core profit at the glass packaging division, however,

fell 14.5% to 34.8 million euros as destocking by pharmaceutical

customers weighed on demand.

Gerresheimer reiterated the guidance it had issued at

full-year results in February, confirming that it expects core

profit of between 430 and 450 million euros for the year.

($1 = 0.9311 euros)