Merck KGaA's Priority Is to Pay Down Debt, Says Kuhnert

The transcript covers the impact of US elections on business, strategies for managing financial debt post-Sigma acquisition, concerns about drug pricing in the US, the company's business structure and M&A strategy, and healthcare margin improvements. The company is not worried about the US election results affecting its business and plans to use operating cash flow to reduce debt. It aims for a net debt to EBITDA ratio below two by 2018. The company is focused on value-based pricing and balancing innovation with affordability. Healthcare margins have improved, but rising R&D costs may affect future margins.

How does the company view its relationship with the US as a trading partner?

What is the company's target ratio of net debt to EBITDA for 2018?

What are the company's expectations for healthcare margins in the next two years?