Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

AstraZeneca Q2 Highlights: Profits Fall, COVID-19 Vaccine Sales Dip, Lifts Annual Sales Guidance

Published 29/07/2022, 11:04
Updated 29/07/2022, 11:40
© Reuters AstraZeneca Q2 Highlights: Profits Fall, COVID-19 Vaccine Sales Dip, Lifts Annual Sales Guidance

© Reuters AstraZeneca Q2 Highlights: Profits Fall, COVID-19 Vaccine Sales Dip, Lifts Annual Sales Guidance

  • AstraZeneca Plc (NASDAQ: NASDAQ:AZN) Q2 profits fell sharply on ballooning costs linked to its Alexion (NASDAQ:ALXN) takeover. The net profit was down 68% Y/Y (75% on constant currency) to $247 million.
  • Core EPS reached $1.72, +92% (+89% CC).
  • The company clocked Q2 sales of $10.77 billion, +32% (+38% CC), beating the consensus of $10.53 billion.
  • AstraZeneca's best-selling product Tagrisso for lung cancer saw revenues increase 7% to $1.4 billion, while sales of cardiovascular and diabetes treatment Farxiga jumped 51% to $1.1 billion.
  • Sales of its Covid-19 vaccine Vaxzevria slumped 49% to $455 million in the second quarter. The company said most Vaxzevria revenues came from initial, non-profit contracts.
  • Operating expenses jumped 33%, "reflecting the addition of Alexion, and continued investment in new launches and the pipeline" of drugs.
  • Guidance: AstraZeneca said FY22 revenue from Covid-19 medicines is anticipated to be broadly flat compared with 2021, with the growth of its preventative antibody treatment Evusheld offsetting an expected decline in Vaxzevria sales.
  • Revenue is expected to increase by a low twenties percentage (previously high teens).
  • Price Action: AZN shares are down 1.24% at $65.89 during the premarket session on the last check Friday.
  • Photo via Wikimedia Commons
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.