Merck KGaA reports revenue rise

Merck KGaA has announced its financial results for the second quarter of the 2008 fiscal year.

The company reported a 6.1 rise in total revenues on the same period last year, up to 1.9 billion euros (1.5 billion pounds).

Revenue was driven by a 24 per cent increase in sales of Erbitux and a 2.8 rise in sales of Rebif, while liquid crystals revenues rose by seven per cent to 238 million euros.

Profits after tax more than doubled on the figure for 2007, reaching 211 million euros.

Revenues at Merck Serono rose 8.3 per cent to 1,237 million euros during the second-quarter of 2008, with first-half revenues increasing by nine per cent on last year’s figure to 2,419 million.

Dr Karl-Ludwig Kley, chairman of the executive board of Merck KGaA, said: “The Merck Group produced solid growth in the second quarter with all four divisions contributing to the increase in revenues despite strong headwinds from negative currency effects.”

He added that as a consequence of these results, the company remained on track to meet its financial guidance for 2008.

Earlier this month, Merck KGaA said it was looking to make acquisitions to the firm in either its chemical or pharmaceutical divisions.