Merck has reported an increase in group net sales by 12.9% to €22.23bn in fiscal 2022 against €19.68bn in 2021.

The growth in sales was driven by all regions and business sectors, particularly Life Science.

Organically, the company generated an increase of 6.4% in group sales in fiscal 2022.

Favourable foreign exchange effects of 6.1% resulted primarily from the development of the US dollar and the Chinese renminbi.

Additionally, due to the acquisition of Exelead, a biopharmaceutical contract development and manufacturing company, sales increased by 0.4%.

For fiscal 2022, Merck’s EBITDA increased by 9.4% to €6.50bn compared to €5.94bn in the prior year.

The company reported an organic sales increase of 8.2% to €10.38bn in its Life Science business during the year. The EBITDA pre of Life Science grew by 14.4% to €3.76bn, reflecting a 9.7% organic rise.

Merck presented strong data in Healthcare from its 2022 pipeline about Phase II trials for xevinapant (head and neck cancer) and evobrutinib (multiple sclerosis).

During the year, the company noted that net sales of the Healthcare business increased by 10.6% to €7.83bn over the previous year. The increase in sales was due to new medicines.

Merck’s immuno-oncology drug Bavencio increased by 57.9% in organic sales.

Sales of Mavenclad and Erbitux increased organically by 16.9% and exceeded the €1bn mark, respectively.

Merck CEO and Executive Board chair Belén Garijo said: “Our innovative power and global diversification are key pillars of our resilience.

“Thanks to our broad positioning, we are confident of achieving our mid-term financial target of €25bn in sales by 2025 based purely on organic growth, with the option of further accelerating our growth through potential acquisitions and in-licensing deals.”