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)
