AstraZeneca Plc - Year-to-date and Third Quarter 2019 results

 

 

AstraZeneca Plc

Year-to-date and Q3 2019 results

 

Patients to benefit from further pipeline progress; sales-growth momentum driving operating leverage

 

Year-to-date Product Sales growth of 13% (17% at CER1) to $17,315m included third-quarter Product Sales of $6,132m (+16%, +18% at CER). The third quarter again saw all three therapy areas and every sales region produce encouraging performances, including: 

  • The continued performance of new medicines2, with sales growth in the quarter of 62% (+64% at CER) to $2,707m, including new-medicine growth in Emerging Markets of 85% (90% at CER) to $539m
  • Sales growth by therapy area in the quarter: Oncology +46% (+48% at CER) to $2,334m, New CVRM3 +8% (+11% at CER) to $1,113m and Respiratory +15% (+18% at CER) to $1,319m
  • Sales growth by region in the quarter: total Emerging Markets sales grew by 25% (29% at CER) to $2,123m, with China sales growth of 35% (40% at CER) to $1,283m, ahead of longer-term trends. US sales increased by 17% to $2,025m; Europe sales continued their return to growth, increasing by 1% (4% at CER) to $1,139m; Japan sales increased by 31% (27% at CER) to $657m

 

The Company today upgrades its Product Sales guidance at CER for the year.

 

YTD 2019

Q3 2019

 

$m

% change

$m

% change

 

Actual

CER

Actual

CER

Product Sales

17,315

13

17

6,132

16

18

Collaboration Revenue

405

3

6

274

n/m

n/m

Total Revenue

17,720

13

17

6,406

20

22

 

 

 

 

 

 

 

Reported4 Operating Profit

2,347

2

3

757

(11)

(13)

Core5 Operating Profit

4,891

41

42

1,880

43

41

 

 

 

 

 

 

 

Reported EPS6

$0.79

(11)

(15)

$0.23

(33)

(38)

Core EPS

$2.61

39

38

$0.99

40

36

                 

 

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

"With AstraZeneca growing at pace, our sales guidance has been upgraded for the second consecutive quarter. Another strong performance from our new medicines accompanied impressive results in our key markets, most notably in China, the US and Japan. The performance reinforces our confidence in delivering sustainable earnings growth. 

We delivered further positive news for patients. Lynparza demonstrated its potential as a treatment for prostate cancer and as an expanded treatment for ovarian cancer. Tagrisso, Imfinzi and PT010 also had positive data, and we delivered breakthrough data in heart failure for Farxiga.

We are continuing to ensure that we capture the benefits of our growth by balancing reinvesting in our business, delivering on our sustainability commitments, continuing to improve our operating leverage and cash generation."