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AstraZeneca

Patent expirations and an R&D drought take a toll on AZ.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AstraZeneca 4Q10

4Q Revenues: $8.6 billion (-4%)

4Q Earnings: $1.6 billion (+4%)

FY Revenues: $33.3 billion (+1%)

FY Earnings: $8.1 billion (+7%)

Comments: Pharma sales in the U.S. were down 12% due to generic competition and the absence of H1N1 pandemic vaccine revenues. Crestor sales rose 26% in 4Q10 to $1.6 billion and 24% for FY to $5.7 billion. Seroquel sales were up 9% for the year to $5.3 billion, driven by growth in the XR formulation. Symbicort sales were up 15% for 4Q10 to $741 million and 20% for FY to $2.7 billion. Arimidex sales in the U.S. plummeted as a result of generic competition in 4Q10, dropping 90% to $22 million. Its EU patent protection expires in February 2011. 4Q earnings were impaired by a $445 million charge relate to canceling development of Motavizumab for RSV.

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