Merck KGaA Result Solid, No Reason for Optimism, Warburg Says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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MRK GR (Merck KGaA)
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UUID: 7947283
(Bloomberg) -- Merck reported a good start to the year, but the development primarily at Performance Materials and the moderate organic growth rate reported for LifeScience give no reason to become more optimistic, Warburg analyst Ulrich Huwald write in client note.
- Rates stock hold, PT EU116
- Rather cautious FY guidance will not trigger earnings upgrades
- Performance Materials had a “moderate” start to the year also reflected in FY guidance, LifeScience was “roughly in line” and Healthcare reported “healthy” organic sales lifted by modified distribution agreement for Glucophage in China
- While Rebif and Erbitux had good start to the year, pressure on both products will remain, especially on Erbitux due to competition (Vectibix for example) and pricing
- Says Merck is currently valued roughly in line with its peers
- NOTE: Merck KGaA Profit to Show Little Change After New Drug Nod
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
MRK GR (Merck KGaA)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283