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Gerresheimer Q3 profit beats consensus on strong inhaler sales
October 6, 2016 / 6:11 AM / a year ago

Gerresheimer Q3 profit beats consensus on strong inhaler sales

FRANKFURT, Oct 6 (Reuters) - German drugs-packaging firm Gerresheimer reported a bigger-than-expected rise in third-quarter core profit on Thursday as strong sales of asthma inhalers helped bolster earnings at its Plastic & Devices division.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 24 percent to 84.4 million euros ($94.5 million) in the quarter to end-August, above consensus for 81 million euros in a Reuters poll.

Gerresheimer - whose products include pharmaceutical packaging, insulin pens and inhalers - also adjusted its full-year forecasts to reflect the sale of its laboratory glassware business, announced in September.

It said it now saw 2016 revenue of around 1.4 billion euros and core profit of 305 million euros, compared with the previous guidance of 1.5 billion euros and 320 million euros, respectively.

$1 = 0.8930 euros Reporting by Maria Sheahan; Editing by Sunil Nair

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