AstraZeneca: sales return to growth thanks to new medicines
(CercleFinance.com) - AstraZeneca said product sales returned to growth in the second quarter, thanks to the strong performance of its new medicines.
In the quarter, product sales increased by 2% to over 5 billion dollars, with new medicines generating more than 1 billion dollars in additional sales for the first half, the group said.
"Our new medicines performed strongly and have established themselves as major drivers of product sales, including Lynparza, Tagrisso and Imfinzi in oncology, Brilinta and Farxiga in CVRM (cardiovascular, renal and metabolism) and Fasenra in respiratory," said CEO Pascal Soriot.
Still, core EPS fell by 21% to 0.69 dollars in the second quarter, as the company saw its operating expenses grow by 3%.
The British drugmaker has reiterated its guidance for 2018, expecting a low single-digit percentage increase in product sales and core EPS between 3.30 and 3.50 dollars.
As a consequence, its shares jumped 2.7 per cent at 5,716 pence in London.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In the quarter, product sales increased by 2% to over 5 billion dollars, with new medicines generating more than 1 billion dollars in additional sales for the first half, the group said.
"Our new medicines performed strongly and have established themselves as major drivers of product sales, including Lynparza, Tagrisso and Imfinzi in oncology, Brilinta and Farxiga in CVRM (cardiovascular, renal and metabolism) and Fasenra in respiratory," said CEO Pascal Soriot.
Still, core EPS fell by 21% to 0.69 dollars in the second quarter, as the company saw its operating expenses grow by 3%.
The British drugmaker has reiterated its guidance for 2018, expecting a low single-digit percentage increase in product sales and core EPS between 3.30 and 3.50 dollars.
As a consequence, its shares jumped 2.7 per cent at 5,716 pence in London.
Copyright (c) 2018 CercleFinance.com. All rights reserved.