Organic EBITDA could decline moderately, be flat at best in 39;23
Company reaffirms 2025 sales goal on confidence in new products
Joins other drugmakers in getting hit by COVID sales cliff

FRANKFURT, March 2 Reuters Germany39;s Merck KGaA on Thursday predicted 2023 earnings would slip due to a decline at its electronic chemicals unit and a drop in COVIDrelated demand for its lab supplies from drug and vaccine makers.

For 2023 earnings before interest, taxes, depreciation and amortisation EBITDA, adjusted for oneoffs, the company assumes a moderate decline to an about stable development, before any currency swings, it said in a statement.

Negative foreign exchange effects would likely be an additional drag of between 1 and 4, according to the maker of pharmaceuticals, lab equipment and specialty chemicals.

Overall, Merck assumes that 2023 will be a challenging year. The slowing semiconductor market, decreasing Covid19related demand and persistently high inflation will contribute to this, the familycontrolled group said in a statement.

Revenues from COVID19 related lab supplies would likely drop to 250 million euros from 800 million last year, it added.

Pharmaceutical companies such as Pfizer, Moderna, Gilead and Roche have this year warned of a plunge in pandemicrelated product sales after making billions from them over the past two years.

Still, Merck Chief Executive Belen Garijo upheld the German group39;s goal of 25 billion euros 26.6 billion in sales by…