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ASTRAZENECA PRESCRIBES A RISE IN 2014 FORECASTS

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Crestor-manufacturing trade AstraZeneca on STOCK.com

ASTRAZENECA PRESCRIBES A RISE IN 2014 FORECASTS

Nov 5 2014, 11.30am GMT

Stock.com

Revenue may be up but profit is down and pipeline investment at AstraZeneca has given a negative impact on the pharma’s shares. However, 2014 sales forecast was raised for the second quarter in a row.

Revenue in the third quarter was $6,542 million, up 5%* - the third consecutive quarter of revenue growth. Nine months revenue was up 4%.

  • Year-to-date growth platforms up 16%, contributing 54% of total revenue.
  • Brilinta: +78%, good momentum across all regions.
  • Diabetes: +139%, strong US Farxiga launch and good uptake of Bydureon Pen.
  • Respiratory: +11%, US Symbicort growth of 26%.
  • Emerging Markets: +12%, with China growth of 22%.
  • Japan: stable, impacted by mandated biennial price cuts and increased use of generics.

However, the Company is accelerating its investments in its growth platforms and expanding pipeline. Core EPS for 2014 is now expected to decrease at around 10%; better than anticipated in previous guidance. In addition, Core EPS for 2014 at actual exchange rates is expected to be impacted negatively by currency by around 5%, assuming current exchange rates.

Pascal Soriot, Chief Executive Officer stated: “Brilinta, respiratory and diabetes, our three core franchises, increased sales by 38 percent in the quarter, supported by continued selective allocation of sales and marketing resources. In addition, we have chosen to invest in our rapidly developing pipeline that will continue to create value for AstraZeneca in 2015 and beyond.

“We have made important progress towards achieving scientific leadership across all core therapeutic areas, including a positive opinion by the CHMP for Lynparza (olaparib), the FDA approval for Movantik, the launch of the Bydureon Pen in the US, and the progress of our immuno-oncology pipeline presented at ESMO. This momentum is further evidenced by the successful completion of our strategic business combination with Almirall, strengthening our respiratory franchise.

CHMP: The Committee for Medicinal Products for Human Use is the committee at the European Medicines Agency.

ESMO: Europe's leading medical oncology society, providing a professional network for its members and working with national societies across Europe.

AstraZeneca shares plummet after future pipeline is revealed:

AstraZeneca quarterly earnings 2014

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