MKKGY Merck KGaA (PK)

By Cecilia Butini

Merck KGaA on Thursday backed its medium-term targets at group level and for its business units, and said that it plans further in-licensing deals and acquisitions as of next year.

The German pharmaceuticals-and-chemicals company said it remains on track to reach its growth target of 25 billion euros ($24.71 billion) in sales by 2025. Sales growth is expected at an average of 6% a year, which equates to an increase of more than EUR1 billion annually, the company said.

Merck backed a mid-term forecast at both group and divisional levels and said it continues to expect sales growth to progress in its life science, healthcare and electronics business.

"As of 2023, the group will once again consider potential larger-scale acquisitions as an option," Merck said, adding that it plans both bolt-on acquisitions and in-licensing deals.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

October 06, 2022 02:40 ET (06:40 GMT)

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