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  • AstraZeneca tops...

AstraZeneca tops quarterly estimates buoyed by cancer drug sales

Ruchika SharmaWritten by Ruchika Sharma Published On 2022-11-13T10:00:48+05:30  |  Updated On 13 Nov 2022 10:01 AM IST
AstraZeneca Imfinzi approved in EU as immunotherapy for limited stage small cell lung cancer
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Delaware: AstraZeneca on Thursday topped analysts' expectations for third-quarter profit and revenue, helped by sales of its key cancer drugs, and raised its full-year adjusted earnings forecast.

The London-listed drugmaker generated $10.98 billion total revenue for the three months ended Sep. 30 on a constant-currency basis, while core earnings came in at $1.67 cents per share.
Analysts on average were expecting profit of $1.52 cents per share on revenue of around $10.73 billion, based on Refinitiv data.
Sales of AstraZeneca's key cancer medicines - Tagrisso and Imfinzi - helped the company's revenue beat, with sales of its broader oncology portfolio rising 24 percent.
Tagrisso generated nearly $1.4 billion, Imfinzi brought in $737 million in the quarter. Cowen analysts had forecast their sales at about $1.35 billion and $725 million, respectively.
The Anglo-Swedish drugmaker now expects its full-year adjusted profit per share to increase by a "high twenties to low thirties percentage". Previously, it had forecast a 2022 gain in the "mid-to-high twenties percentage".
Like Swiss peer Novartis, AstraZeneca reports its results in dollars. Novartis in late October said strong U.S. currency was a drag on the value of its quarterly sales generated outside the United States.
AstraZeneca on Thursday said its anticipated 2022 revenue growth would be impacted by a currency headwind of a "mid single-digit percentage".
Core earnings per share for the year will also be negatively affected by "mid-to-high single-digit percentage," it added.

Read also: AstraZeneca gets USFDA nod for Imfinzi, Imjudo with chemotherapy to treat metastatic non-small cell lung cancer

AstraZenecaAstraZeneca newscancercancer drugTagrissoImfinzi
Source : Reuters
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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