Views Article – Sharenet Wealth

Europe, Forex

Merck KGaA’s Q2 profit bolstered by drug milestone payments

FRANKFURT, Aug 8 (Reuters) – Germany’s Merck KGaA posted a gain in quarterly earnings that was slightly higher than market expectations, driven by drug development milestone payments from partners Pfizer and GlaxoSmithKline .

Second-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, gained 23.8% to 1.14 billion euros ($1.28 billion), it said on Thursday, slightly above the analyst estimate of 1.11 billion euros in a Refinitiv poll.

Merck confirmed its guidance for an underlying increase of 10-13% in 2019 EBITDA and adjusted for one-off items but now sees a positive effect of 0% to +2% from currencies.

($1 = 0.8921 euros) (Reporting by Ludwig Burger Editing by Thomas Seythal)

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
Array ( )