Another German pharma major hit by currency headwinds
As with its rival and compatriot Bayer (BAYN: DE), the German life sciences group Merck KGaA (MRK: DE) was left cursing the strength of the euro as it presented its financial results for the first quarter of the year.
The results had a similar impact on Merck’s share price, the value of which was down by nearly 6% at 80.18 euros as Tuesday’s trading entered its final hour.
"Our focus on moving ahead in all three of our business sectors through innovation remains unchanged"
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