AstraZeneca PLC First Quarter Results 2008- Core EPS increased by 9 percent at CER to $1.28.
- First quarter sales increased by 4 percent at CER to $7,677 million.
- Inclusion of MedImmune sales more than offset the decline in Toprol-XL™ sales in the US.
- Strong growth in Emerging Markets, with sales up 11 percent at CER.
- Underlying business performance on track. Core EPS target increased to reflect year to date currency impact.
- Revised target range for Core EPS is $4.45 to $4.75.
- First of 3 planned regulatory filings for the year achieved.
- US Biologics Licence Application for motavizumab submitted in January.
- Settlement agreement with Ranbaxy in Nexium™ patent infringement announced 15 April.
- Agreement gives increased clarity and stability to allow continued investment in our growing pipeline.
- Company will vigorously defend its intellectual property.
LONDON, April 24, 2008 - David Brennan, Chief Executive Officer, said: “The first quarter performance puts us on track to achieve
our full year financial targets. We have also announced the motavizumab BLA submission in January - the first of three regulatory filings planned for 2008 - and the agreement to settle the Nexium™ patent infringement litigation against Ranbaxy, which has provided increased clarity and stability to allow us to continue the substantial investment in our growing pipeline of new medicines.”
London, 24 April 2008
Media Enquiries: Steve Brown/Chris Sampson (London) (020) 7304 5033/5130
Earl Whipple (Wilmington) (302) 885 8197
Per Lorentz (Södertälje) (8) 553 26020
Analyst/Investor Enquiries: Mina Blair/Karl Hard (London) (020) 7304 5084/5322
Jonathan Hunt (London) (020) 7304 5087
Staffan Ternby (Södertälje) (8) 553 26107
Ed Seage/Jörgen Winroth (US) (302) 886 4065/(212) 579 0506
Peter Vozzo (MedImmune) (301) 398 4358
For full report, see attachments.
Posted: April 2008