AstraZeneca reports EPS at $0.27, down 37% YoY

Business 5/18/2018, 8:04 AM
AstraZeneca reports EPS at $0.27, down 37% YoY

Anglo-Swedish pharmaceutical giant AstraZeneca plc said on Friday its reported earnings per share in the first quarter of the fiscal 2018 decreased 37% to $0.27 per share, compared to the same period a year earlier. Meanwhile, the company's revenue came in at $5.18 billion, a decrease of 4% year over year and below expectations, while product sales rose 3% to $4.98 billion.

"Encouraging launches and strong performances from our newer generation of medicines made a significant contribution to Product Sales in the quarter, paving the way for our anticipated return to growth in 2018," chief executive officer Pascal Soriot commented on the results, adding that the quarter's performance was in line with expectations and the company's guidance unchanged.

The company's oncology drugs saw sales growth of 39% in the quarter, with sales of breast cancer treatment Lynparza rising 109% to $119 million and lung cancer drug Tagrisso's sales increasing 98% to $338 million.

Breaking the News / JC

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