Skip to Content

Merck KGaA ADR MKKGY

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Merck KGaA Benefiting From COVID-Related Development Projects; Maintaining Fair Value Estimate

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

Narrow-moat Merck KGaA reported third-quarter operating results that rebounded sequentially from the nadir in the second quarter and even beat Capital IQ estimates. However, management's outlook for 2020 remains roughly in line with our estimates after adjusting for a recently released legal provision related to a patent dispute with Biogen, and we are maintaining our fair value estimate for Merck KGaA.

Read Full Analysis

Company Profile

Business Description

Merck KGaA operates in three main segments: life sciences, performance materials, and healthcare. The life sciences segment provides laboratory consumables and instruments to researchers in academia and applied fields, including the biopharmaceutical industry. In its performance materials segment, the company offers specialty materials to manufacture a variety of products, such as semiconductors, flat-screen televisions, automobiles, and cosmetics. In the healthcare segment, Merck develops, manufactures, and sells branded pharmaceuticals with significant therapeutic concentrations in oncology, multiple sclerosis, and fertility. In 1995, the E. Merck KG family publicly sold part of the company, resulting in the current 30% public ownership of the firm.

Contact
Frankfurter Strasse 250
Darmstadt, 64293, Germany
T +49 6151720
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type
Employees 58,077