Merck KGaA Meets Full-Year Expectations

Group sales achieved by German pharmaceutical group Merck KGaA amountedto just under 7 billion Deutschemarks ($4.3 billion) in 1996, an increase of around 11.3%, which was in line with Goldman Sachs analysts' expectations.

The group's pharmaceutical business sector achieved good growth of 16% to 3.9 billion marks, which was driven by the generics business. The group's laboratory business sector achieved sales of 1.7 billion, up 6.6%, and the specialty chemicals sector's revenues were up 5.4% to 1.3 billion marks.

Merck commented that there was a generous 25% rise in the fourth quarter of 1996 in turnover in the pharmaceutical sector. The annual growth rate was 16%. "In the light of ongoing budget debates in Germany with its negative effects on the November and December turnover, this growth is remarkable," commented the firm.