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'Europe is lagging behind' on innovation, says Merck KGaA CEO
  + stars: | 2024-01-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Europe is lagging behind' on innovation, says Merck KGaA CEOBelén Garijo, CEO of Merck KGaA, discusses European regulation, growth and innovation with CNBC at Davos.
Persons: Merck, Belén Garijo, Merck KGaA Organizations: Merck, CNBC Locations: Davos
A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. The market for semiconductor materials sold by the company's Electronics division, should "recover incrementally in 2024", Merck added. The company reaffirmed that sales would be broadly flat this year, at between 20.5 billion euros ($21.6 billion) and 21.9 billion euros, compared with 22.2 billion last year. The outlook for adjusted core earnings of 5.8 billion to 6.4 billion euros this year, down from 6.85 billion in 2022, was also confirmed. Higher interest rates have dampened investor appetite for risky biotech drug ventures, compounding a decline in coronavirus-related activities.
Persons: Ralph Orlowski, Belen Garijo, Morgan, Merck, JP Morgan, Garijo, Ludwig Burger, Rachel More, Elaine Hardcastle Organizations: Merck, REUTERS, company's Electronics, Lonza, Reuters, Thomson Locations: Darmstadt, Germany, FRANKFURT, coronavirus, Swiss
Merck, seen as leading the race to win approval for a more targeted type of MS drug, said in April that U.S. regulators had paused enrolment of new patients into a trial testing the drug, evobrutinib, knocking the German drugmaker's share price. "The readout of our Phase 3 study is going to happen in December," she added of the pivotal study in the clinical trials process. Novartis (NOVN.S), also in the race, said in April that no signs of liver damage had been seen in trials testing its anti-inflammatory drug candidate remibrutinib so far. Roche (ROG.S) said in May that its BTK inhibitor against MS, reduced brain lesions associated with the disease in a mid-stage trial and that no new safety concerns had emerged. Reporting by Ludwig Burger Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.
Persons: Germany's Merck, Belen Garijo, ROG.S, Ludwig Burger, Bill Berkrot Organizations: Germany's, Merck, U.S . Food, Drug Administration, Reuters, Rivals, Sanofi, Novartis, Thomson Locations: FRANKFURT, U.S, Darmstadt
FRANKFURT, June 6 (Reuters) - The CEO of German technology group Merck KGaA (MRCG.DE) said that unravelling trade ties with China would come at great economic costs and that she was banking on dialogue to ease tensions between Beijing and Western powers. Belen Garijo, the Spanish CEO of the German maker of drugs, lab equipment and semiconductor chemicals, said late on Monday that dependencies between the powers were huge, speaking at a journalist club event in Frankfurt. But the two sides on Tuesday described meetings after the incident between senior U.S. and Chinese officials as constructive. For months, U.S. and German lawmakers have called for a reduction in trade to cut dependency on China. CEO Garijo said the company would look closely into "different scenarios on the basis of the potential escalation of the conflict", but such an escalation was not likely.
Persons: Belen Garijo, Garijo, Robert Habeck, Chancellor Olaf Scholz's, Ludwig Burger, Patricia Weiss, David Evans Organizations: Merck, U.S, Thomson Locations: FRANKFURT, China, Beijing, Spanish, Frankfurt, Chinese, U.S, Taiwan, Berlin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S.-China tensions are the biggest worry we have, Merck CEO saysMerck CEO Belen Garijo says "we hope for a very fast de-escalation" of geopolitical tensions between the two countries.
Meanwhile, Merck's investment strategy in China has not changed but the healthcare and chip materials maker is "mindful of the potential risks", Garijo noted in the Reuters Newsmaker interview. China is a key region for the semiconductor industry and drug companies, but geopolitical challenges are growing. While Taiwan has lived under the Chinese threat for decades, war games in early August have rattled nerves in the semiconductor industry. There is a need for "constructive dialogue" with markets like China that are important to German industry, and Merck, said Garijo. "We are mindful of the potential risks ... but our investment policy has not changed," she said.
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