AstraZeneca results strong in Q2
Wins US FDA approval for blood-thinning drug Brilinta
AstraZeneca reported strong second-quarter results and won approval from the US Food and Drug Administration for its blood-thinning drug Brilinta.
Operating profit at the Anglo-Swedish drugmaker increased to US$3.7bn, with revenue growth and lower operating costs offset by lower other operating income.
Revenue rose 3% to US$8.2bn, as strong sales in emerging markets (+16% to US$1.3bn) outweighed declining revenue in the US, where AstraZeneca faces tough generic competition for Toprol-XL, Pulmicort Respules and Casodex. This competition is expected to intensify in the second half of the year as key products come off patent.
Revenue in Established Rest of World rose 4% to US$1.28bn, largely on good growth in Canada and Australia. In Western Europe, sales were up 1% in the second quarter to US$2.2bn.
Sales of AstraZeneca’s best-selling cardiovascular drug Crestor increased in the second quarter by 23% at constant exchange rates.
‘We have seen good performance for key brands Crestor, Seroquel and Symbicort,’ said chief executive David Brennan.
The AstraZeneca pipeline now includes 146 projects, including 97 projects in the clinical phase of development.
