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MarketScreener Homepage  >  Equities  >  Xetra  >  Merck KGaA    MRK   DE0006599905

MERCK KGAA

(MRK)
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Merck KGaA: Merck KGaA reverses provision for lawsuit in the amount of EUR 365 million

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09/29/2020 | 12:10pm EDT

DGAP-Ad-hoc: Merck KGaA / Key word(s): Miscellaneous
Merck KGaA: Merck KGaA reverses provision for lawsuit in the amount of EUR 365 million

29-Sep-2020 / 18:06 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.



Darmstadt, September 29, 2020. In the United States Merck KGaA's subsidiary EMD Serono, Inc. (Merck) is involved in a US patent dispute with Biogen Inc., United States (Biogen). Biogen sued Merck for damages in connection with a patent infringement caused by Merck's product Rebif before the U.S. District Court New Jersey, Newark. Merck defended itself against the allegations and brought a countersuit claiming that Biogen's patent is invalid. In February 2018 a jury declared Biogen's patent invalid vis-à-vis Merck. The jury verdict was overturned by the District Court Judge, who upheld the validity of Biogen's patent. Merck filed a complaint with the U.S. Court of Appeals for the Federal Circuit against this ruling.

On 28 September 2020 the U.S. Court of Appeals for the Federal Circuit set aside the decision of the District Court Judge, invalidated Biogen's patent and instructed the District Court to reinstate the jury verdict.

Therefore, Merck KGaA has decided today to reverse the provisions for the patent dispute proceedings in the amount of EUR 365 million. Thereof, up to a mid to high double-digit million amount might be booked into the financial result.
Merck KGaA will adjust its forecasts accordingly as part of its regular financial reporting

Friederike Segeberg, Leiterin News & Reputation
Merck KGaA
Frankfurter Straße 250
64293 Darmstadt
Germany
Phone: +49 6151 72 - 6328
Fax: +49 6151 72 - 913321
Email: investor.relations@merckgroup.com
Internet: www.merck.de
ISIN: DE0006599905
WKN: 659990
Indices: DAX
Stock exchanges: Regulated Market of Frankfurt am Main (Prime Standard); Open Markets of Berlin, Düsseldorf, Hamburg, Hanover, Munich, Stuttgart; EUREX derivatives exchange; London, SIX

29-Sep-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Merck KGaA
Frankfurter Str. 250
64293 Darmstadt
Germany
Phone: +49 (0)6151 72 - 6328
E-mail: Friederike.Segeberg@merckgroup.com
Internet: https://www.merckgroup.com/de
ISIN: DE0006599905
WKN: 659990
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, SIX
EQS News ID: 1137699

 
End of Announcement DGAP News Service

1137699  29-Sep-2020 CET/CEST

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© EQS 2020

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Financials
Sales 2020 17 304 M 20 524 M 20 524 M
Net income 2020 1 706 M 2 023 M 2 023 M
Net Debt 2020 10 847 M 12 866 M 12 866 M
P/E ratio 2020 32,0x
Yield 2020 1,01%
Capitalization 57 325 M 67 857 M 67 994 M
EV / Sales 2020 3,94x
EV / Sales 2021 3,66x
Nbr of Employees 57 523
Free-Float 29,7%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 126,24 €
Last Close Price 131,85 €
Spread / Highest target 13,8%
Spread / Average Target -4,25%
Spread / Lowest Target -23,4%
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Stefan Oschmann Chairman-Executive Board & CEO
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