Modest Sales Rise At Merck KGaA "Solely Due To Exports"

German drugmaker Merck KGaA has said that its operating profits in 1997will be markedly below the level achieved last year, and only improvements in foreign business are preventing an even worse scenario, according to Hans Joachim Langmann, the company's chairman.

Merck said that only 17% of group business is now concluded with customers in Germany, and consolidated domestic turnover fell 2.7%. The modest rise in sales recorded by Merck Darmstadt, up 1.8% to 1.43 billion marks, was solely due to exports, while sales for other companies within Europe increased 10.9% to 2.35 billion marks.

57% of total sales were accounted for by the group's European companies, but Merck's growth is principally a result of overseas business in North America (+28.5%), Asia (+22%) and Latin America (+26.3%). Australia and the remaining countries increased 53% to 289 million marks