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Financial Report: AstraZeneca

Loss of exclusivity on multiple brands pummels results

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AstraZeneca
 
4Q Revenues: $7.3 billion (-16%)

4Q Earnings: $1.5 billion (-8%)

FY Revenues: $28 billion (-17%)

FY Earnings: $6.3 billion (-18%)

Comments: U.S. revenues were down 23% in the quarter as a result of the loss of exclusivity for Seroquel IR. The negative impact of U.S. healthcare reform on revenue and costs in the quarter was approximately $250 million. Revenue in the Rest of World was down 9% and revenue in Western Europe was down 16%. Loss of exclusivity on Seroquel IR, Atacand, Nexium and Merrem, accounted for 85% of the revenue decline. There were a few bright spots in AZ’s newer products: Symbicort sales were up 8% (CER) to $891 million in the quarter, Faslodex sales were up 20% to $175 million, Onglyza sales were up 24% to $88 million, and Iressa sales were up 10% to $160 million.

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