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Merck KGaA raises lower end of FY profit guidance range

By Ludwig Burger

FRANKFURT, Aug 6 – Merck KGaA on Thursday was more upbeat about its worst-case scenario for full-year earnings, as patients previously deterred by lockdown measures begin to seek the company’s treatments again.

Merck said core earnings before special items in 2020 would likely be between 4.45 billion euros ($5.3 billion) and 4.85 billion euros, raising the lower end of the target range from 4.35 billion.

Last year, it posted a figure of 4.39 billion euros.

“The latest forecast assumes that there will be no widespread lockdowns owing to further disease waves (in China, Europe and the United States) leading to considerably negative consequences for the economic recovery,” it said in a statement.

($1 = 0.8418 euros) (Reporting by Ludwig Burger; Editing by Maria Sheahan)

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