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Lower profits for Astra Zeneca


  

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Thursday, 28 July 2011
Pharmaceutical giant AstraZeneca reported a profit before tax of $2.858 million, equivalent to about Skr18 billion, for the second quarter of this year.

That compares with profit of $2.917 million in the corresponding periods of 2010. Sales amounted to $8.43 billion, compared with $ 8.178 billion a year earlier.
The Board recommends a dividend for the first half of the year at $0.85 per share. Astra Zeneca has in the first half of this year, repurchased its shares for $ 2.2 billion.
The forecast for the full year in the core business increased to the range of $7:05 to $7:35 dollars per share.

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CEO David Brennan wrote in the report that in spite of generic competition and government price intervention he can raise the forecast for earnings per share and higher goals for return to shareholders. He is also pleased that the blood clot inhibitor Brilinta is approved in 41 countries and now also in the United States.

Among the big sellers include Nexium, which sold for $ 1.112 million during the quarter and Losec, which was sold for $ 239 million. However, it is lower than the second quarter of last year for both drugs.
Crestor was sold for $ 1.714 million, an increase of 15 percent.
By Scancomark.se Team


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