AstraZeneca PLC first quarter results 2013

Thursday, 25 April 2013

Pascal Soriot, Chief Executive Officer, commenting on the results, said:

"As anticipated, the first quarter performance reflects the loss of exclusivity for several large products. We remain focused on our strategic priorities of returning to growth and achieving scientific leadership. Brilinta, the diabetes franchise, Emerging Markets, Japan and our Respiratory products have all made good progress and we continued to invest in distinctive science that will advance our knowledge of disease physiology and help to identify new drug targets."

Revenue for the first quarter was $6,385 million, down 12 percent at constant exchange rates (CER).

  • Losses of exclusivity for Seroquel IR and Atacand in many markets, and for Crestor in Canada, were the key drivers for the revenue decline.
  • Growth for Symbicort, Brilinta, Iressa and the inclusion of the Amylin diabetes products delivered more than $250 million of revenue growth at CER in the quarter.
  • Emerging Markets revenue increased by 9 percent at CER in the quarter.

Core operating profit was down 21 percent at CER to $2,324 million in the first quarter.

  • Core operating profit decline was driven by lower revenue and lower Core other income, partially offset by Core operating costs (combined R&D and SG&A) that were 4 percent lower at CER than last year.

Core EPS was $1.41, down 21 percent at CER compared to the first quarter last year.

  • Core EPS declined in line with Core operating profit, as a higher tax rate this year was broadly offset by a lower number of shares outstanding and lower net finance expense.

Reported EPS was down 31 percent at CER to $0.81.

The Company continues to expect a mid-to-high single digit decline in revenue at CER and a Core EPS decline that is significantly larger than the decline in revenue for the full year.

Continued investment in distinctive science in core therapy areas through collaborations with Karolinska Institutet, Moderna Therapeutics, BIND Therapeutics and the acquisition of Alphacore Pharma.

Downloads

http://www.astrazeneca.com/Investors/financial-information/Financial-results

Notes to Editors

About AstraZeneca

AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com.

Contacts

Media Enquiries

Esra Erkal-Paler +44 20 7604 8030 (UK/Global)
Vanessa Rhodes +44 20 7604 8037 (UK/Global)
Ayesha Bharmal +44 20 7604 8034 (UK/Global)
Jacob Lund +46 8 553 260 20 (Sweden)

Investor Enquiries

James Ward-Lilley +44 20 7604 8122 mob: +44 7785 432613
Karl Hård +44 20 7604 8123  mob: +44 7789 654364
Colleen Proctor + 1 302 886 4065 mob: +1 302 373 1361
Ed Seage + 1 302 886 1842 mob: +1 302 357 4882