BioMerieux’s Covid-19 woes could be eased with a merger. The 10 billion euro French diagnostic firm spooked the market on Wednesday by warning that sales for this year are forecast to decline by between 3% and 7%, as the pandemic recedes and the need for Covid-19 tests eases. The company’s shares fell as much as 12%, bringing their decline this year to 32%.
Register now for FREE unlimited access to Reuters.comLONDON, March 2 - BioMerieux’s Covid-19 woes could be eased with a merger. The 10 billion euro French diagnostic firm spooked the market on Wednesday bythat sales for this year are forecast to decline by between 3% and 7%, as the pandemic recedes and the need for Covid-19 tests eases. The company’s shares fell as much as 12%, bringing their decline this year to 32%.
Chief Executive Alexandre Mérieux’s troubles are likely to intensify. Inflation is driving up the cost of medical supplies and labour, which will further squeeze margins. That makes a deal with German-Dutch rival Qiagen
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