(Reuters) – Germany’s Merck KGaA expects earnings growth of up to 9% this year as its laboratory gear business benefits from drugmakers’ efforts to explore new biotechnologies, even as demand related to COVID-19 has levelled off.
In a statement on Thursday, the diversified group predicted growth of 5% to 9%, excluding the effect of currency swings and any acquisitions, for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), with the Life Science division as a key growth driver.
First-quarter adjusted EBITDA rose 7.8% to 1.63 billion euros ($1.71 billion), in line with analyst expectations.
($1 = 0.9508 euros)
(Reporting by Ludwig Burger; Editing by Maria Sheahan)
