AstraZeneca grows across territories and specialisms
Cambridge Big Biotech powerhouse AstraZeneca has upgraded its product sales guidance after revealing further global progress across its pipeline in Q3.
The share price soared 80p to 7,383p as AZ packed on the muscle across its portfolio.
The company reported year-to-date product sales growth of 13 per cent to $17.315 billion including third-quarter sales of $6.132bn.
The quarter again saw all three therapy areas and every sales region produce encouraging performances.
AZ reported the continued performance of new medicines, with sales growth in the quarter of 62 per cent to $2.707bn, including new-medicine growth in emerging markets of 85 per cent to $539m.
Sales growth by therapy area in the quarter saw oncology up 46 per cent to $2.334bn, new CVRM up with per cent to $1.113bn and respiratory 15 per cent ahead to $1.319bn.
By territory, sales growth in the quarter saw emerging markets up 25 per cent to $2.123bn, with China sales growth of 35 per cent to $1.283bn, ahead of longer-term trends.
US sales increased 17 per cent to $2.025bn; Europe sales continued their return to growth, increasing one per cent to $1.139bn, while Japan sales rose 31 per cent to $657m.
CEO Pascal Soriot 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.”