Biotech services buoy Merck KGaA as countries reopen
A more upbeat financial results statement from Germany’s Merck KGaA (MRK: DE) reflects rebounding sales in key markets, with falling COVID-19 rates enabling countries to relax lockdown measures.
In line with analysts’ expectations, sales rose by 3.7% to 4.1 billion euros ($4.86 billion) in the second quarter, while earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 5.7% to 1.1 billion euros.
Merck said its healthcare and performance materials units have been more severely affected by the COVID-19 pandemic, compared with life sciences.
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