Merck KGaA lifts outlook on drugs, flat screen chemicals
DARMSTADT Nov 15 (Reuters) - Merck KGaA lifted its 2012 outlook on Thursday and beat expectations for third-quarter results on higher prices for a multiple sclerosis drug and strong demand for its chemicals for flat screens.
The German drugmaker now expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) this year of 2.90-2.95 billion euros ($3.7-$3.75 billion), the upper half of a previous range of 2.85-2.95 billion euros.
Third-quarter adjusted EBITDA rose 15.6 percent to 754 million euros, above a forecast for 740 million in a Reuters poll. Revenues also exceeded expectations.
($1 = 0.7856 euros) (Reporting by Ludwig Burger)
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