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On Thursday, AstraZeneca Plc (NASDAQ:AZN) reported second-quarter sales of $12.94 billion, up 13% year over year (+17% at constant currency), beating the consensus of $12.75 billion.
The company’s adjusted EPADS reached $0.99, inline with consensus. The adjusted EPS was $1.98 (1 ADR = 2 Common Shares)
AstraZeneca’s top business, oncology, delivered a 15% jump (up 19% on constant currency) in second-quarter sales to $5.33 billion.
Cardiovascular, Renal, and Metabolism (CVRM) sales increased 18% (up 22 at CER)% to $3.16 billion.
R&I Respiratory & Immunology sales increased 23% (26% CER) to $1.91 billion.
Rare Disease drug sales increased by 10% (+14% at CER) to $2.15 billion.
Guidance: For fiscal year 2024, AstraZeneca forecasts total revenue and core EPS to increase by a mid-teens percentage, compared to prior guidance of a low double-digit to low-teens percentage.
Reuters highlights the sales outlook, which indicates that the company has transitioned beyond its peak-selling COVID vaccine from 2021, driven by its cancer therapies and a robust pipeline with new treatments for various diseases expected by the decade’s end.
Price Action: AZN stock is down 4.44% at $76.16 during the premarket session at last check on Thursday.
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Posted In: AZN