AstraZeneca: maintains 2019 outlook on sales beat
(CercleFinance.com) - Drugmaker AstraZeneca, which is enjoying a boost from its new drugs, maintained its full-year earnings forecasts on Friday as first-quarter sales came in ahead of expectations.
A 10% increase in product sales - at 5.5 billion dollars - for the three months to end-March was helped by the success of new medicines and emerging markets, the group said.
Its oncology drugs Tagrisso, Imfinzi and Lynparza continued to perform well, as did Farxiga for diabetes, while Brilinta for heart attracks and Fasenra for asthma also grew strongly, it said.
Emerging markets, the company's largest sales region, delivered 22% growth.
The group reported first-quarter operating profit that is up 58% at 1.1 billion dollars.
For the full year, the Anglo-Swedish drugmaker said it still expects product sales to grow at "a high single-digit percentage increase," with core EPS of between 3.50 dollars and 3.70 dollars.
Despite this, the London-listed AstraZeneca share is trading down 0.8% after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
A 10% increase in product sales - at 5.5 billion dollars - for the three months to end-March was helped by the success of new medicines and emerging markets, the group said.
Its oncology drugs Tagrisso, Imfinzi and Lynparza continued to perform well, as did Farxiga for diabetes, while Brilinta for heart attracks and Fasenra for asthma also grew strongly, it said.
Emerging markets, the company's largest sales region, delivered 22% growth.
The group reported first-quarter operating profit that is up 58% at 1.1 billion dollars.
For the full year, the Anglo-Swedish drugmaker said it still expects product sales to grow at "a high single-digit percentage increase," with core EPS of between 3.50 dollars and 3.70 dollars.
Despite this, the London-listed AstraZeneca share is trading down 0.8% after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.