AstraZeneca (AZN) share price: what to expect from its half-year results
The British-Swedish drug maker made a strong start to 2019, with investors hoping for more of the same in its upcoming half-year results.
When is AstraZeneca’s results date?
AstraZeneca will unveil its half-year results on July 25.
AstraZeneca’s results preview: what does the City expect?
The British-Swedish drug maker has seen its share price make steady gains this year, climbing more than 8% since January from £59 a share to £63.65 as of 15:50 GMT on Friday.
Its stock’s performance reflects its strong first quarter results, which saw AstraZeneca record product sales growth of 10% to $5.46 billion, driven by new medicines.
The drug maker also recorded strong sales growth in emerging markets and China, with the revenues up 14% and 21% respectively, helping to total revenue hit $5.49 billion.
‘Our 14% Product Sales growth in the quarter reflected the success of our new medicines and Emerging Markets,’ AstraZeneca CEO Pascal Soriot said. ‘In Oncology, Tagrisso, Imfinzi and Lynparza continued to do well and, in BioPharma, Farxiga, Brilinta and Fasenra also grew strongly.’
‘Emerging markets, our largest sales region, delivered an outstanding performance with a 22% growth rate; all of its sub-regions grew strongly, including China at 28%,’ he added.
AstraZeneca and its investors are expecting more of the same in its half-year results, with the drug maker anticipating strong and sustainable product sales growth to be accompanied by operating leverage, leading to an improvement in profitability.
AstraZeneca pays out £12 million in severance dispute
Earlier this week, the British-Swedish drug maker announced that it will end a longstanding dispute with former employees by paying out £12 million to cover severance pay.
The dispute arose after AstraZeneca sold its Avlon manufacturing site in Bristol to rival Avara for £1 at the end of 2016, only for the acquirer to fall into administration earlier this year – leading to the site being shut down.
‘AstraZeneca remained closely involved in helping secure a future for the Avlon site following the sale to Avara, which was made in good faith in 2016,’ AstraZeneca spokesperson Michele Meixell said in a statement. ‘We have been engaged with the receivers since the company fell into administration.’
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