GERMAN science and technology group Merck is open to more acquisitions for its Life Science business after announcing in May it would buy Mirus Bio for US$600 million, it said ahead of its Capital Markets day on Thursday (Oct 17).
“Our guiding principle is and always has been, the right target, at the right time, for the right price,” CEO Belen Garijo said in a statement.
“For larger future transactions, Merck is focusing on the Life Science business sector,” the firm added.
Shares in the group were up 6.06 per cent at 0727 GMT. ODDO BHF analyst Oliver Metzger attributed the move chiefly to gains in German pharma peer Sartorius, whose shares jumped 13 per cent on Thursday after it said it expects an improved second half.
Merck narrowed expectations for its Life Science business, aiming for annual organic sales growth in a 7-to-9 per cent range from a previously anticipated 7 to 10 per cent.
It also said it will intensify the in-licensing of drug candidates in its Healthcare division.
The Hesse-based company changed its outlook for its Healthcare business to “slight growth”, compared to a previously expected mid-single-digit percentage range, due to “recently announced pipeline setbacks”, the statement said.
Merck has reported a string of setbacks in the development of cancer and multiple sclerosis drugs in recent years.
The company however raised the mid-term outlook for its electronics division to a 5-to-9 per cent range from a previous 3-to-6 per cent, benefiting from high demand for chips for AI applications. REUTERS
