March 7, 2019 / 6:10 AM / 4 months ago

Merck KGaA says currency headwinds quell drug gains in Q4

FRANKFURT, March 7 (Reuters) - Germany’s Merck KGaA posted a 1.3 percent decline in adjusted core earnings in the fourth quarter as negative currency effects more than offset strong demand at its lab supplies division and gains from a new multiple sclerosis drug.

Quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, slipped to 950 million euros ($1.07 billion), below the average analyst estimate of 981 million in a Reuters poll.

($1 = 0.8844 euros)

Reporting by Ludwig Burger; editing by Thomas Seythal

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