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Financial Report: AstraZeneca

Generic erosion impacts results

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AstraZeneca
 
2Q Revenues: $6.2 billion (-4%)

2Q Earnings: $823 million (-24%)

YTD Revenues: $12.6 billion (-10%)

YTD Earnings: $1.8 billion (-26%)

Comments: Loss of exclusivity on several key brands accounted for approximately $500 million in lost revenue in the quarter. U.S. revenues were down 4%, largely driven by erosion of Seroquel IR. ROW was also down 4%. Revenue in Europe was down 13%, driven by the loss of exclusivity for Atacand, Nexium, and Seroquel IR. Crestor sales were down 4% to $1.5 billion in the quarter. Growth in the diabetes franchise was aided by the inclusion of Byetta and Bydureon revenues for this period only. Symbicort sales were $842 million, up 11%.

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