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Financial Report: AstraZeneca

Loss of nearly $2 billion in 2011 from generic competition, 7,300 more layoffs to come

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AstraZeneca

4Q Revenues: $8.7 billion (flat)

4Q Earnings: $2.2 billion (-10%)

FY Revenues: $33.6 billion (-2%)

FY Earnings: $12.8 billion (+11%)

Comments: Crestor sales were $1.8 billion in the quarter (+11%) and $6.6 billion for the year (+13%). Symbicort sales were $839 million (+13%) in the quarter and $3.1 billion for the year (+11%). Seroquel XR sales were up 27% in the quarter and year to $398 million and $1.5 billion, respectively. Onglyza sales were up 122% in the quarter to $71 million and up 206% to $211 million for the year. Generic competition impacted Arimidex sales (-42% to $166 million in the quarter and -53% to $756 million for the year); Nexium sales (-13% to $1.2 billion in the quarter and -12% for the year to $4.4 billion); and Seloken /Toprol-XL sales (-5% in the quarter to $236 million and -20% for the year to $986 million). U.S. revenues were up 5% in the quarter and down 2% for the year. Revenue in the Rest of World was down 3% in the quarter and down 2% for the year. Revenue performance in the quarter was impacted by government price interventions and the loss of around $450 million in revenue to generic competition.

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