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Astra Zenca suffer from profits drought

Thursday, 26 July 2012
The Swedish - British pharmaceutical company AstraZeneca reported earnings per share for the core (Core) at $ 1.53 in the second quarter of 2012 (1.73), as shown on its interim report.
Analysts' in Sweden had placed their expectations at an average of $ 1.41 per share, according to media reports here
Revenue for the second quarter was $6,660 million, down 18 percent at constant exchange rates (CER).

Loss of exclusivity on several key brands accounted for 15 percentage points of the revenue decline. Resilient performance for Crestor. Strong growth continued for ONGLYZATM, Iressa and Faslodex.

The company say that as expected, generic competition and challenging market conditions is reflected in lower second quarter revenues. Progress made on execution of long-term priorities, with the on-market portfolio and the pipeline strengthened through recent business development initiatives. Financial targets for full year unchanged.

"As expected, further limitations in the supply chain at our plant in Sweden continued into the second quarter; the estimated impact on second quarter revenue was around 2 percent." The Company estimates the impact for the full year will be around 1 percent of revenue.

Emerging Markets revenue increased by 1 percent at CER. Supply chain issues affected Emerging Markets revenue; adjusted for this, revenue growth would have been around 8 percent, the company says.
Simon Lowth, Interim Chief Executive Officer, commenting on the results, said: “As we expected, the loss of exclusivity on some key brands and tough market conditions have resulted in a decline in revenue and earnings in the second quarter. Despite these challenges, we are on track to achieve our financial targets for the full year."

See result details here
By Scancomark.se Team



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