Merck KGaA Falls After ‘Uninspiring’ 2014 Profit Forecast
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Merck KGaA fell the most in more than five weeks after the maker of the Erbitux cancer drug disappointed some investors with its 2014 profit forecast.
Earnings before interest, taxes, depreciation and amortization excluding one-time items will be at the same level as last year, when the company earned 3.25 billion euros ($4.5 billion), the Darmstadt, Germany-based company said today in a statement. Analysts predict 3.31 billion euros, the average of 16 estimates compiled by Bloomberg.