AstraZeneca PLC:Third Quarter and Nine Months Results 2008
Robust third quarter performance.
Third quarter sales increased by 3 percent at constant exchange rates (CER). Core EPS increased by 20 percent at CER to $1.32.
Third quarter sales in Emerging Markets increased by 18 percent at CER to $1.1 billion. Sales in China increased by 35 percent.
Crestor sales up 28 percent (CER) in the third quarter. US sales increased by 23 percent fuelled by atherosclerosis indication. Crestor is the only branded statin to gain market share in the US this year.
Nine months sales increased by 3 percent and Core EPS by 8 percent at CER.
Core EPS target for the year increased to reflect stronger operational and financial performance as well as additional currency benefit.
Revised target range for Core EPS is $4.90 to $5.05.*
No further share repurchases will take place in 2008 in order to maintain the flexibility to invest in the business.
LONDON, Oct. 30, 2008-David Brennan, Chief Executive Officer, said: “AstraZeneca has delivered a robust set of results that deliver on our performance commitments despite an increasingly challenging environment for the pharmaceutical sector and business in general. We continue to make good progress on reshaping our cost base, including advancing innovation in our research and development activities with greater productivity and efficiency. I am pleased to be able to raise our financial guidance for the full year on the back of these results.”
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