What are Merck's new full-year 2026 targets?

Merck now expects revenue of between €21.5bn and €21.9bn and adjusted EBITDA of between €6.2bn and €6.4bn, up from previous ranges of €21.0bn to €21.8bn and €5.9bn to €6.3bn.

What drove Merck's third-quarter growth?

The Electronics division posted organic sales growth of just over 13 percent, with semiconductor solutions up almost 19 percent on strong AI chip demand.

What acquisitions is Merck making?

Merck is close to completing its nearly €10bn acquisition of Bio-Techne and is also acquiring Silence Therapeutics for $1.3bn, while selling its contract manufacturing business to Lonza.

AI Stocks & MarketsTop Companies' AI MovesAI Business & IndustryTop Companies AI10m agoNov 13, 2026, 06:30 JST

Merck lifts 2026 targets as AI chip demand and new drugs lift outlook

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3 Key Points

What happened
Merck raised its full-year 2026 revenue forecast to between €21.5bn and €21.9bn, up from €21.0bn to €21.8bn, after third-quarter organic revenue rose 5.1% to just over €5.6bn.
Why it matters
The upgrade signals that AI-related demand for chipmaking materials is feeding through to the group's top line, while its shares rose as much as 3 percent to a yearly high of €156.25.

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Context & Analysis

Merck's upgrade follows a summer quarter in which group revenue rose organically by 5.1 percent to just over €5.6bn, with adjusted operating profit at just under €1.7bn—level with the year-earlier quarter but above analysts' expectations. The company is betting that its Electronics division, which grew organic sales by just over 13 percent, can sustain momentum as AI chip demand remains strong. CEO Kai Beckmann argued the AI opportunity extends beyond data centers into end devices, industrial AI and scientific AI. At the same time, Merck faces generic competition for its multiple sclerosis drug Mavenclad in the US from November, though new drugs such as the recently approved cancer therapy Pimjetmi are expected to help offset that. CFO Helene von Roeder flagged a weaker fourth-quarter order book in the Life Science lab business, even after 6.1 percent organic growth there. The company is also reshaping its portfolio through acquisitions like Bio-Techne and Silence Therapeutics while divesting its contract manufacturing business to Lonza.

FAQ

What are Merck's new full-year 2026 targets?: Merck now expects revenue of between €21.5bn and €21.9bn and adjusted EBITDA of between €6.2bn and €6.4bn, up from previous ranges of €21.0bn to €21.8bn and €5.9bn to €6.3bn.
What drove Merck's third-quarter growth?: The Electronics division posted organic sales growth of just over 13 percent, with semiconductor solutions up almost 19 percent on strong AI chip demand.
What acquisitions is Merck making?: Merck is close to completing its nearly €10bn acquisition of Bio-Techne and is also acquiring Silence Therapeutics for $1.3bn, while selling its contract manufacturing business to Lonza.

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