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AstraZeneca annual profit more than doubles on strength in new medicines
StockMarketWire.com
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Pharmaceutical giant AstraZeneca delivered full-year results in line with its expectations, as annual profit was boosted by the sale of new oncology and biopharmaceuticals medicines.
For the year ended 31 December, pre-tax profit more than doubled to $3.92 billion from $1.55 billion year-on-year as revenue increased by 9% to $26.62 billion.
Product sales grew 10% to $25.89 billion, led by oncology growth of 25% to $10.85 billion, BioPharmaceuticals CVRM grew by 3% to $7.10 billion, while respiratory & immunology fell 1% to $5.36 billion.
The company declared an interim dividend of $1.90 per share, keeping the unchanged full-year dividend per share at $2.80.
'AstraZeneca delivered strong results in the year, in line with guidance that was reconfirmed during the year. With over half of Total Revenue coming from the fast-growing new medicines,' the company said.
'Tagrisso's future was enhanced with its first regulatory approval in early, potentially-curable lung cancer and further national reimbursement in China in advanced disease. Farxiga again expanded its potential beyond diabetes, while tezepelumab promised real hope for patients suffering from severe asthma,' it added.
Story provided by StockMarketWire.com
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