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AstraZeneca Q1 total revenue down 4 percent

AstraZeneca
AstraZeneca   $5.18 billion

Generic competition to cholesterol fighter Crestor and higher costs hit AstraZeneca in the first quarter, despite good sales of new drugs.


AstraZeneca said it remained on track for a promised return to sales growth in 2018.

Its latest arrivals - Imfinzi for cancer and Fasenra for severe asthma - both sold well and total product sales in the three months rose a modest 3 percent, helped by a weaker dollar.

Total revenue, however, was down 4 percent at $5.18 billion, due to investment in new drug launches and a lack of divestments compared with a year earlier. Core earnings per share, which exclude some items, slumped 51 percent to 48 cents.


 

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