DAVOS, Switzerland (Reuters) – The CEO of Germany’s Merck KGaA said a recovery in sales growth at its existing business means it can take a cautious approach when it comes to buying other companies, which are expensively priced.
“We need to stay prudent and patient because our business is returning to growth organically. We are not in a rush,” CEO Belen Garijo told Reuters in an interview on the sidelines of the World Economic Forum’s annual meeting in Davos, Switzerland.
Merck is focused in particular on strengthening its Life Science unit, a maker of lab gear and supplies, but asset prices when measured as a multiple of earnings are high, she added.
(Reporting by Divya Chowdhury in Davos; Writing by Ludwig Burger; Editing by Friederike Heine)
