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AstraZeneca 3Q

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AstraZeneca

3Q Revenues: $7.2 billion (+10%, +6% at Constant Exchange Rates)

3Q Earnings: $1.4 billion (-15%)

YTD Revenues: $21.4 billion (+11%, +7% CER)

YTD Earnings: $4.4 billion (-6%)

Comments: In a deliberately obfuscatory earnings note, AZ posted revenue growth of approximately $600 million in 3Q7, reaching $7.1 billion. Global sales of Crestor grew 39% (CER) to $691 million, but the company reported that a generic challenge to AZ’s patent was issued on Oct. 30. Nexium sales dropped 1% (CER) to $1.3 billion, due to generic competition. Seroquel sales grew 22% (CER) to $1.1 billion, including $80 million in stocking sales for the XR formulation. Seloken/Toprol XL sales fell 33% (CER) to $328 million, due to generic competition. The company posted $146 million in restructuring costs in 3Q07 and $604 million YTD.

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