AstraZeneca sales rise 12% - and busy second half of 2019 predicted
AstraZeneca has confirmed growth of 12 per cent in product sales for the first six months of the year - and is predicting an “exceptionally busy” second half of the year.
The growth, which was 17 per cent on a constant exchange rate (CER) basis, took sales to $11,183m for the period.
The second quarter was particularly strong, with every sales region and all three therapy areas performing well. Oncology grew 51 per cent (57 per cent at CER), cardiovascular, renal and metabolism, including diabetes, grew nine per cent (13 per cent at CER) and respiratory by two per cent (seven per cent at CER).
Sales to China were up 34 per cent (44 per cent at CER) to $1,166m, while sales in Japan rose 30 per cent (34 per cent at CER), US sales grew 16 per cent and European sales returned to growth, increasing by one per cent (8 per cent at CER) to $1,047m.
CEO Pascal Soriot said: “The momentum generated last year continued into the first half, consolidating AstraZeneca’s return to growth based on the strength of our new medicines.
“Five of these new medicines are anticipated to be blockbusters this year, supporting sales across both oncology and biopharmaceuticals.
“Emerging markets, the US and Japan all grew strongly, and we delivered an encouraging turnaround in Europe in the second quarter.
“Selective investment in sustainable growth also continued, particularly in emerging markets and in our launch programmes.
“Additional regulatory approvals for Lynparza in ovarian cancer in the EU and Japan, together with approvals for Breztri and Bevespi in COPD (chronic obstructive pulmonary disease) in Japan, illustrated further progress from our pipeline.
“Accompanying earnings growth this year, we are pleased to upgrade our product sales guidance and we are committed to working on our operating leverage and driving cash generation over the long term.”
More by this authorPaul Brackley