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Chinese competition and costs weigh on Merck KGaA outlook

Reuters  |  DARMSTADT, Germany 

DARMSTADT, Germany (Reuters) - Germany's Merck KGaA expects a fall in operating profit this year before a rise next, it said on Thursday, citing Chinese competition in liquid crystals used in flat screens and higher drug development expenses.The chemicals and drugs maker said 2018 adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) on a currency-adjusted basis would decline and expects foreign exchange rates to have a 4-6 percent negative impact. Launch costs for multiple sclerosis pill Mavenclad and funds for research on cancer drug hopeful Bavencio are also ...

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First Published: Thu, March 08 2018. 16:31 IST