September 9, 2021
FRANKFURT (Reuters) – Germany’s Merck KGaA on Thursday issued a more ambitious medium-term growth forecast for its Life Science unit, a supplier of materials and lab gear for the biotech industry.
Life Science division revenues are now expected to grow 7% to 10% per year, excluding the effect of currencies and acquisitions, significantly above market growth and up from a previous goal of 6% to 9%, the diversified company said.
In a statement on its capital markets day on Thursday, the family-controlled group added that it expects group sales to grow organically by more than 6% per year on average through 2025, driven by demand for the Life Science unit’s bioprocessing products, new pharmaceuticals and semiconductor chemicals.
(Reporting by Ludwig Burger, editing by Thomas Escritt)
Source Link Merck KGaA lifts growth forecast for life science tools business
