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Merck KGaA Narrows Net Losses, Upgrades Full-Year Guidance
7:53 AM MDT | August 14, 2012 | Natasha Alperowicz
Merck KGaA (Darmstadt, Germany) reported an after-tax loss of €60.5 million ($74.9 million) for the second quarter of this year, an improvement of 30% on the after-tax loss of €86.8 million in the second quarter of 2011. The company cites its Fit for 2018 efficiency program as the main reason for the loss. The program forms part of Merck’s transformation, addressing unprecedented market shifts, increasing competition, and tackling inefficiencies in its own organization. Second-quarter revenues were up 11.6%, to €2.85 billion...
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