AstraZeneca: confirms return to growth
(CercleFinance.com) - AstraZeneca largely beat forecasts on Thursday, with a 14% rise in first-half revenue, helped by growing sales of its cancer drugs.
Total revenue rose to 11.3 billion dollars in the first six months of 2019, compared to 10.3 billion dollars in the same period of 2018.
The Anglo-Swedish drugmaker said oncology sales jumped by 52% in the first half, to over 4 billion dollars, with sales of lung cancer drug Tagrisso alone up 86%.
Core operating profit for the period rose 44% to 3 billion dollars, equivalent to core EPS of 1.62 dollar.
On the back of these strong numbers, the group raised its forecasts for 2019 product sales, which are now expected to post a low double-digit increase.
The prior guidance was for a high single-digit percentage increase.
Indeed, five of the group's new medicines are anticipated to be blockbusters this year, CEO Pascal Soriot said.
The London-listed shares were up 5.5% after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Total revenue rose to 11.3 billion dollars in the first six months of 2019, compared to 10.3 billion dollars in the same period of 2018.
The Anglo-Swedish drugmaker said oncology sales jumped by 52% in the first half, to over 4 billion dollars, with sales of lung cancer drug Tagrisso alone up 86%.
Core operating profit for the period rose 44% to 3 billion dollars, equivalent to core EPS of 1.62 dollar.
On the back of these strong numbers, the group raised its forecasts for 2019 product sales, which are now expected to post a low double-digit increase.
The prior guidance was for a high single-digit percentage increase.
Indeed, five of the group's new medicines are anticipated to be blockbusters this year, CEO Pascal Soriot said.
The London-listed shares were up 5.5% after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.