* Expects no repeat of massive lockdown measures
* Fertility clinics closed but are reopening
* Ramp-up of new multiple sclerosis treatment was slowed
(Adds detailed outlook, results)
By Ludwig Burger
FRANKFURT, Aug 6 (Reuters) - Merck KGaA on
Thursday was more upbeat about its worst-case scenario for
full-year earnings, as patients previously deterred by lockdown
measures begin to seek the company's treatments again.
Merck said core earnings before special items in 2020 would
likely be between 4.45 billion euros ($5.3 billion) and 4.85
billion euros, raising the lower end of the target range from
4.35 billion.
Last year, it posted a figure of 4.39 billion euros.
"The latest forecast assumes that there will be no
widespread lockdowns owing to further disease waves (in China,
Europe and the United States) leading to considerably negative
consequences for the economic recovery," it said in a statement.
Second-quarter adjusted EBITDA declined 5.7% to 1.1 billion
euros, the healthcare and chemicals company said, in line with
the average analyst estimate in a Refinitiv poll.
Merck's fertility business was hit the hardest by the
COVID-19 pandemic, with quarterly sales dropping almost 40% in
local currencies to 190 million euros as most fertility clinics
closed. They are now opening up again, it added.
The ramp-up of its new multiple sclerosis pill Mavenclad was
also dampened, with sales growing by a slower-than-expected 36%
to 82 million euros, but signs of an upswing in prescription
rates emerged in June, Merck said.
($1 = 0.8418 euros)
(Reporting by Ludwig Burger; Editing by Maria Sheahan)