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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca    AZN   GB0009895292

ASTRAZENECA (AZN)
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AstraZeneca : 3Q Operating Profit Rises Despite Product Sales Decline

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11/09/2017 | 08:55am CEST

By Adam Clark

AstraZeneca PLC (AZN.LN) reported Thursday that its operating profit for the third quarter of 2017 increased, boosted by a one-off tax benefit, but product sales continued to decline due to the loss of exclusivity on some key drugs.

The pharmaceutical company's operating profit rose 12% to $1.15 billion, up 9% in constant currencies. Pretax profit rose 33% to $1.82 billion.

However, product sales for the quarter fell 3% to $4.88 billion, which AstraZeneca said was due to a loss of exclusivity on its Crestor and Seroquel products. Total revenue rose 9% to $6.23 billion, benefiting from a contribution from externalization revenue--proceeds from partnerships and licensing deals.

AstraZeneca narrowed its 2017 guidance, saying it now expects its core earnings per share to be towards the favorable end of a low to mid-teens percentage decline. It reiterated its 2017 revenue guidance of a low to mid single-digit percentage drop.

Chief Executive Pascal Soriot said the most notable developments of the quarter were positive data from the company's drugs pipeline, especially its Tagrisso and Imfinzi cancer therapy candidates.

Write to Adam Clark at [email protected]; @AdamDowJones

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Financials ($)
Sales 2018 22 201 M
EBIT 2018 5 245 M
Net income 2018 1 969 M
Debt 2018 14 506 M
Yield 2018 3,71%
P/E ratio 2018 39,35
P/E ratio 2019 31,73
EV / Sales 2018 4,84x
EV / Sales 2019 4,57x
Capitalization 92 966 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 74,8 $
Spread / Average Target 1,9%
EPS Revisions
Managers
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Dunoyer Chief Financial Officer & Executive Director
Sean Bohen Chief Medical Officer & Executive Vice President
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