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Sartorius 9-month net profit up 21.2% YOY

Sartorius AG, which develops pharmaceutical and laboratory equipment, said earnings for the first nine months of 2019 grew by 21.2% year over year.

The Göttingen, Germany-based company's nine-month net profit totaled €153.2 million, or €2.23 per share, up from €126.3 million, or €1.84 per share, a year earlier.

Consolidated sales revenue for the period reached €1.36 billion, a 17.5% year-over-year growth from €1.15 billion.

Sales from the company's bioprocess solutions segment amounted to €1.03 billion, up 21.6% on a reported basis from €843 million, in the same period of 2018, mainly driven by project business in Asia.

Sartorius' lab products and services division booked sales of €330.8 million, a 6.5% yearly increase on a reported basis from €310.7 million.

Nine-month EBITDA rose 22.7% to €361.1 million from €294.2 million in the year-ago period.

For the nine months ended Sept. 30, Sartorius unit Sartorius Stedim Biotech SA reported net profit €198.1 million, or €2.15 per share, up 23.3% from €160.7 million, or €1.74 per share, in the same period of 2018.

The Aubagne, France-based unit said sales revenue for the same period was €1.08 billion, up 20.2% on a reported basis from €896.1 million in the prior year.

Both Sartorius and Sartorius Stedim Biotech expect to reach the higher end of their sales forecast for 2019.

Sartorius previously said it expects sales revenue to increase by about 10% to 14% in constant currencies, while Sartorius Stedim Biotech projects sales revenue to increase by about 12% to 16%.

In other news, Sartorius agreed to acquire three businesses from Danaher Corp.'s life science portfolio for about $750 million in cash.