Merck KGaA ADR

MKKGY: PINX (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$65.00	Wxwzwnb	Kjlhyqwfx

Merck KGaA's Benefiting From Solid Organic Growth and FX Benefits

Julie Utterback

Nov 10, 2022

Business Strategy and Outlook

Merck KGaA has made a series of acquisitions and divestitures in the past decade or so to position the group for solid long-term growth in three key segments: life sciences, performance materials, and healthcare. However, after robust results in 2020 and 2021 due to COVID-19-related benefits particularly in its life sciences business, we think the company's intermediate-term growth may soften toward more historic norms.

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