TOP NEWS: Rising Product Sales Give AstraZeneca Strong Start To 2019

LONDON (Alliance News) - AstraZeneca PLC on Friday reported a strong set of first-quarter ...

Alliance News 26 April, 2019 | 7:17AM
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LONDON (Alliance News) - AstraZeneca PLC on Friday reported a strong set of first-quarter results, with new medicines helping to drive growth in product sales.

AstraZeneca's product sales climbed 10% for the first three months of 2019 to USD5.47 billion, with constant currency growth of 14%. Revenue was up 6%, or 11% constant currency, to USD5.49 billion.

Pretax profit doubled to USD758 million, with reported operating profit rising 58% at actual currency rates to USD1.10 billion and core operating profit up 84% at actual rates to USD1.65 billion.

Looking within products, Oncology sales rose 54% to USD1.89 billion at actual rates, with Tagrisso, Imfinzi, and Lynparza all reported strong growth.

New Cardiovascular, Renal, & Metabolism sales rose 15% to USD1.03 billion, with the likes of Farxiga and Brilinta doing well. New sales growth in emerging markets was particularly strong, AstraZeneca said.

The Anglo-Swedish firm's Respiratory sales climbed 9% to USD1.28 billion, with Fasenra and Pulmicort both having a good quarter, though Symbicort declined due to pricing pressure.

Emerging markets as a segment posted 14% growth to USD2.00 billion, with Chinese sales up 21%.

Chief Executive Pascal Soriot said: "Our core operating profit almost doubled, demonstrating strong operating-margin improvement.

"Together with this encouraging financial start to the year, our highly-productive and sustainable pipeline continued to deliver, notably with a regulatory approval for Lynparza in the EU for the treatment of metastatic breast cancer and approvals of Farxiga in type-1 diabetes."

"The recently-announced collaboration with Daiichi Sankyo also broadened an exciting Oncology portfolio with a potentially-transformative cancer treatment that could benefit patients around the world. We appreciate the support from our shareholders in realising this exceptional opportunity," Soriot continued.

Looking ahead, AstraZeneca has reiterated all 2019 guidance, including for high single-digit growth in product sales.

By George Collard;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
AstraZeneca PLC 8,480.00 GBX -1.15

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