German drugmaker Merck KGaA raised its 2026 profit guidance for the third time this year on Thursday, 12 November, after third-quarter sales beat expectations. The Darmstadt-based group now expects adjusted earnings before interest, tax, depreciation and amortisation, known as EBITDA pre, of between €6.2 billion and €6.4 billion for the year, up from its previous forecast of €5.9 billion to €6.3 billion.

Merck also lifted its full-year revenue forecast to between €21.5 billion and €21.9 billion, from €21 billion to €21.8 billion previously. It had already raised guidance twice this year, from an initial EBITDA range of €5.7 billion to €6.1 billion.

Third-quarter sales beat forecasts

In the third quarter, net sales grew by 5.8% on the year to €5.63 billion, ahead of consensus estimates of €5.46 billion, while EBITDA pre edged up 0.8% to about €1.7 billion. Net profit fell by about half to €450 million, because the same period a year earlier had benefited from one-off gains, including a voucher sale and legislative changes in South America.

Merck said the upgrade reflected stronger underlying performance and favourable currency movements, as well as its planned acquisition of US firm Bio-Techne. The $11.3 billion deal, agreed in June, is the group's biggest transaction in more than a decade, and the new forecast assumes a contribution from Bio-Techne in December.

Shares rise in Frankfurt

Merck shares rose 2.5% in Thursday morning trading in Frankfurt, one of the stronger performers on a day when European markets hit record highs. Chief executive Kai Beckmann said the upgraded guidance reflected confidence that Merck would continue to deliver solid performance in 2026, and pointed to the strength of the group's integrated business model, which spans life-science tools, pharmaceuticals and electronics materials.

Sources: Reuters | Morningstar / Dow Jones