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Financial Report: Astra Zeneca 3Q

Seroquel IR losses account for big drop in revenues

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Astra Zeneca

3Q Revenues: $6.7 billion (-19%)

3Q Earnings: $1.5 billion (-18%)

YTD Revenues: $20.7 billion (-17%)

YTD Earnings: $4.8 billion (-21%)

Comments: U.S. revenues were down 19% in the quarter, due to the loss of exclusivity for Seroquel IR. Revenue in the Rest of World (ROW) was down 12% and revenue in western Europe was down 20%, due to patent expirations for Seroquel IR, Atacand, Nexium and Merrem, accounting for 70% of the revenue decline. Crestor sales were down 2% to $1.5 billion. Symbicort sales were up 11% to $785 million. Faslodex sales were $167 million (+28%), Iressa sales were $154 million (+11%) and Onglyza sales were $84.0 million (+42%). Revenue from the company’s share of the Amylin diabetes portfolio contributed $44 million.  The negative impact of U.S. healthcare reform on revenue and costs was approximately $150 million in the quarter.

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