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Fresenius ups FY guidance on growth at generic drugs unit
May 3, 2017 / 5:17 AM / 7 months ago

Fresenius ups FY guidance on growth at generic drugs unit

FRANKFURT, May 3 (Reuters) - German healthcare group Fresenius SE & Co KGaA on Wednesday lifted its guidance on strong demand in the United States for its generic infusion drugs.

For 2017, it now expects adjusted net income to grow by 19 to 21 percent, excluding the effect of currency swings, compared with a previous target for a 17 to 20 percent gain.

That excludes one-off charges from the last week’s deals to acquire U.S. generic drugmaker Akorn Inc for $4.75 billion and the biosimilars arm of Germany’s Merck KGaA .

First-quarter adjusted net income jumped 28 percent to 457 million euros ($500 million), also bolstered by the acquisition of Spanish hospital chain Quironsalud, coming in above the average estimate of 422 million euros in a Reuters poll of analysts.

$1 = 0.9146 euros Reporting by Ludwig Burger; Editing by Maria Sheahan

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