July 30 (Reuters) - Mettler-Toledo International ( MTD )

raised its annual profit forecast on Thursday after posting a

better-than-expected profit for the second quarter, driven by

demand for its laboratory instruments used in drug development

and research.

The life sciences tools market is rebounding after a

prolonged post-pandemic downturn, as biotech and drugmakers ramp

up investments in research and production.

Shares of the company rose about 4% after market hours.

Here are more details:

* The medical equipment maker forecast annual profit in the

range of $47.15 to $47.50 per share, higher than its previous

range of $46.30 to $46.95. Analysts expected $46.66 per share,

according to data compiled by LSEG.

* The company posted an adjusted profit of $11.46 per share

beating analysts' estimates of $10.79 per share for the quarter

ended June 30, supported by growth in China and emerging market.

* Mettler-Toledo ( MTD ), which counts China as a key manufacturing

hub within its global production network spanning the United

States and Europe, last quarter raised its full-year growth

forecast for the country to the mid-single digits.

* It reported an increase of 9% in Asia sales, excluding

acquisitions and tariff refunds

* The Columbus, Ohio-based firm reported second-quarter

revenue of $1.03 billion, nearly in line with estimates

* It expects third-quarter profit in the range of $12.00 to

$12.15 per share and local currency sales to increase 4%.