Drugs giant maintains 2018 momentum into latest interim results

Pharmaceutical giant Astrazeneca said progress achieved last year had carried on into the first half of its current financial year.

Announcing six month results, the group revealed that sales for the first half of $11.314bn were up from $10.333bn the previous year.

Pre-tax profits were 14% ahead at $899m compared with $786m.

Chief executive Pascal Soriot said: “The momentum generated last year continued into the first half, consolidating AstraZeneca’s return to growth based on the strength of our new medicines.

“Five of these new medicines are anticipated to be blockbusters this year, supporting sales across both Oncology and BioPharmaceuticals.

“Emerging Markets, the US and Japan all grew strongly, and we delivered an encouraging turnaround in Europe in the second quarter.”

He added: “Selective investment in sustainable growth also continued, particularly in Emerging Markets and in our launch programmes.

“Additional regulatory approvals for Lynparza in ovarian cancer in the EU and Japan, together with approvals for Breztri and Bevespi in COPD in Japan, illustrated further progress from our pipeline.

“Accompanying earnings growth this year, we are pleased to upgrade our product sales guidance and we are committed to working on our operating leverage and driving cash generation over the long term.”

An unchanged first interim dividend of $0.90 per share is recommended.

The Anglo-Swedish pharmaceutical giant employs around 4,700 people in the North West on sites at Macclesfield and Alderley Park in Cheshire and Speke on Merseyside.

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