AstraZeneca: Q3 results have little impact amongst investors
(CercleFinance.com) - AstraZeneca failed to convince investors on Thursday with its quarterly publication, as the weakness of its respiratory health business overshadowed the good performance of its oncology division.
The biopharmaceutical group's Q3 sales rose by 3% to 6.6 billion dollars. At constant exchange rates, sales also rose by 3%.
The laboratory benefited from strong demand for its cancer treatments, as its oncology division saw its sales increase by 13% over the quarter.
However, sales of respiratory and immunology drugs slipped 1% over the quarter.
Core profit declined by 4% to 0.84 dollar, slightly below the consensus.
In the end, the market had no reason to be enthralled...
UBS analysts, who did not expect the consensus to change, while forecasting the market to have a neutral reaction, proved to be right, with the share flat in late Thursday morning trading in London.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The biopharmaceutical group's Q3 sales rose by 3% to 6.6 billion dollars. At constant exchange rates, sales also rose by 3%.
The laboratory benefited from strong demand for its cancer treatments, as its oncology division saw its sales increase by 13% over the quarter.
However, sales of respiratory and immunology drugs slipped 1% over the quarter.
Core profit declined by 4% to 0.84 dollar, slightly below the consensus.
In the end, the market had no reason to be enthralled...
UBS analysts, who did not expect the consensus to change, while forecasting the market to have a neutral reaction, proved to be right, with the share flat in late Thursday morning trading in London.
Copyright (c) 2020 CercleFinance.com. All rights reserved.