FRANKFURT (Reuters) – Germany’s Merck KGaA said it expected strong earnings growth this year, driven by its Life Science unit, which supplies materials and gear to COVID-19 vaccine makers and to a buoyant pharmaceuticals industry.
In a statement on Thursday, the diversified group said strong growth, excluding the effect of currency swings and any acquisitions, was on the cards for sales as well as for adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA).
“Life Science is likely to be the key growth driver,” said the company, which also makes speciality chemicals and pharmaceuticals.
Adjusted EBITDA gained 17.3% to 6.1 billion euros ($6.77 billion) in 2021, in line with an analyst consensus posted on Merck’s website.
($1 = 0.9007 euros)
(Editing by Paul Carrel)
