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World Lab supplier Merck KGaA says U.S. Defense Production Act poses challenge

13:30  12 may  2021
13:30  12 may  2021 Source:   reuters.com

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It said it plans after listing to buy a technology business principally based in Europe. Osborne is known for his investment with venture investor Chamath Palihapitiya in space tourism Virgin Galactic Holdings which went public in 2019 in one of the first high-profile SPAC listings. Lab supplier Merck KGaA says U . S . Defense Production Act poses challenge .

Germany' s Merck KGaA said adjusted core earnings would see "strong" growth, excluding the effect of currency swings, driven by its prescription drugs unit and the lab equipment business. The company said that while the impact of the current coronavirus epidemic was difficult to determine, it was Indeed, the oil markets serve as one highly visible factor determining how much crude gets produced and shipped. For the production and transport of heavy crude oil from western Canada and the U . S . to be profitable, the pricing spread between a heavy crude product such as Western Canadian Select

By Ludwig Burger

a sign hanging from a tree: FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt © Reuters/Ralph Orlowski FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt

FRANKFURT (Reuters) - Merck KGaA on Wednesday said that U.S. regulations that give priority to U.S. government contracts to purchase COVID-19 vaccines are a challenge as it seeks to meet soaring demand for its lab equipment and supplies across the globe.

"We are actively expanding our capacity to be able to supply this unprecedented and ever increasing demand. Is this being a challenge? Obviously it is being a challenge," Chief Executive Belen Garijo said in a media briefing when asked what impact the U.S. Defense Production Act is having on its ability to serve vaccine makers elsewhere in the world.

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FRANKFURT (Reuters) - Merck KGaA said a slight decline in operating earnings was on the cards this year as the coronavirus pandemic weighs on demand for chemicals in TV screens and is putting couples off seeking the German group' s fertility treatments. Earnings before interest, taxes But it is now bracing for the crisis to prevail during the entire year, posing a significant burden to the economy. Many fertility clinics across the world had closed in response to the virus outbreak and are now reopening only at reduced capacity, Merck said , adding that it does not expect a catch-up effect until

At Merck , we're following the science to tackle some of the world' s greatest health threats. Get a glimpse of how we work to improve lives. This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U . S . Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’ s management and are subject to significant risks and uncertainties.

She said U.S. law required that a preference be given to so-called rated state orders for COVID-19 programmes over any other orders.

"For us, all our customers and all the other COVID-19 programmes are very crucial and we are making capacity expansion a top priority of our agenda," she said, pointing to investment projects both in the United States and Europe.

Under the U.S. priority access programme, the government has laid claim not only to finished COVID-19 vaccines but also to vaccine components and equipment.

Germany's CureVac, which is gearing up to publish results of a COVID-19 vaccine trial, said last week that U.S. export restrictions on already tight supplies of materials were making it impossible to predict its short-term production ramp-up in Europe.

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Merck KGaA agreed to speed up the supply of lipids to BioNTech SE, easing a bottleneck preventing faster production of Covid-19 vaccines. The German pharma company is already looking to expand production of custom lipids and expects to increase deliveries to BioNTech toward the end of 2021, it Merck , based in Darmstadt, Germany, is not affiliated with U . S .-based Merck & Co. Over the past year, it’ s intensified a collaboration with BioNTech and also supported about 50 other Covid vaccine projects in a role similar to that of a supplier in the auto sector, it said . Merck KGaA shares were little

Merck KGaA said a slight decline in operating earnings was on the cards this year as the coronavirus pandemic weighs on demand for chemicals in TV screens and is putting couples off seeking the German group' s fertility treatments. Merck had previously banked on the pandemic peaking in the first quarter and subsiding during the second, raising the prospect of strong EBITDA growth in 2020. But it is now bracing for the crisis to prevail during the entire year, posing a significant burden to the economy.

Merck in March unveiled plans to invest 25 million euros ($29.9 million) to make disposable plastic materials for bioreactors in France, an essential input for COVID-19 vaccine manufacturing.

The new site, Merck's first such facility in Europe, will likely come on stream at the end of this year, Garijo reiterated on Wednesday.

Merck in December announced a combined $47 million investment at U.S. production facilities in Massachusetts and New Hampshire, also to produce supplies for makers of COVID-19 vaccines and therapies.

Merck, which competes in lab equipment with Thermo Fisher and Sartorius, has another site for single-use plastic bags for bioreactors in Wuxi, China.

(Reporting by Ludwig Burger, editing by Kirsti Knolle, Robert Birsel)

Corporations flaunt their moral values at home, enable China's repression abroad .
Over the past few years, Communist China has thrown two million innocent people into concentration camps. It has destroyed Hong Kong's democracy and thrown pro-democracy activists in prison. It has risked a major war by replicating Imperial Japan's territorial ambitions, claiming the South China Sea as its own private swimming pool. It has terrorized its own citizens simply for making jokes. It has refused to address honestly global concerns over the origins of the COVID-19 pandemic. © Provided by Washington Examiner These are not past actions, either — the regime of Xi Jinping continues to do all these things.

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