Biotech services boost Merck KGaA during pandemic

12 November 2020

Analysts’ third quarter revenue forecasts were right on the money for Merck KGaA (MRK: DE), the German drugmaker reporting sales of 4.4 billion euros ($5.2 billion), an increase of 9.7%.

The firm announced earnings per share (EPS) of 1.85 euros, up 0.79 euros from the same period of 2019.

The positive outcome was driven largely by a double-digit percentage growth in the firm’s life sciences business sector. Strong demand for Merck’s biotech services also lifted sales, as firms scramble to develop therapies to combat the global coronavirus pandemic.

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