(Reuters) -Germany’s Merck on Friday raised its forecast for the group, mainly driven by a strong operating performance at its healthcare and electronics units.
The maker of pharmaceuticals, lab gear and specialty chemicals now expects net sales to be between 20.7 billion euros ($22.49 billion) and 22.1 billion euros for 2024.
The healthcare unit’s performance “more than offset the provision equal to a mid-double-digit million euro amount associated with xevinapant”, the statement added.
Last month, the company said a clinical trial testing its head and neck cancer drug, xevinapant, would be stopped for lack of efficacy.
For the second quarter, the diversified group reported net sales of 5.4 billion euros and adjusted earnings before interest, income tax, depreciation and amortisation of 1.5 billion euros.
($1 = 0.9204 euros)
(Reporting by Urvi Dugar, Editing by Louise Heavens)
