AstraZeneca Set for Growth in 2019 -- Earnings Review
14 Febrero 2019 - 04:54AM
Noticias Dow Jones
By Carlo Martuscelli
AstraZeneca PLC (AZN.LN) reported its fourth-quarter and
full-year results on Thursday, sending shares higher after it
guided for growth in the year ahead.
REVENUE: The drugmaker said revenue rose 11% to $6.42 billion in
the quarter ended Dec. 31, ahead of analysts' expectations of $6.32
billion, based on a FactSet consensus forecast.
CORE EPS: AstraZeneca reported that core earnings per share--a
closely-watched company measure that strips out exceptional
items--increased 22% to $1.58 in the fourth quarter. This beat
analysts' expectations of $1.48.
WHAT WE WATCHED:
The company reported a 19% decrease in core EPS in the full year
to $3.46. However, Astra said it sees a return to growth in 2019,
forecasting core EPS in the range of $3.50 to $3.70. Product sales
are also set to increase by a high single-digit percentage, it
said.
The pharmaceutical major is benefiting from a strong portfolio
of cancer drugs. Sales of Tagrisso--a targeted treatment for
non-small-cell lung carcinomas--nearly doubled in the fourth
quarter to $594 million. Other new cancer drugs such as Imfinzi and
Lynparza are also netting the company hundreds of million of
dollars in sales.
Strong sales in China have provided a further tailwind to
earnings. Product sales in the country increased 22% at constant
exchange rates to $948 million in the quarter.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
February 14, 2019 05:39 ET (10:39 GMT)
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