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2/14, 8:12 AM (Source: TeleTrader)
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AstraZeneca Q4 revenue grows 4% YoY at $6.64B

AstraZeneca plc's total revenue in the fourth fiscal quarter of 2019 rose 4% to stand at $6.64 billion, the pharmaceutical company said on Friday. Product sales grew 8% to $6.25 billion, while collaboration revenue dropped 36% to $414 million. Operating profit fell 46% to $577 million, while profit decreased from $1.01 billion to $277 million. Earnings per share fell 71% to $0.89.

Sales of new medicines increased by 59% in the 2019, with new medicines representing 42% of total product sales. Oncology experienced the biggest growth, with the sales rising 44%, while new CVRM sales increased 9%. Respiratory sales were up 10%.

"In the first full year of our return to growth, we made good progress in line with our strategy. Results from our new medicines and Emerging Markets accompanied positive news for patients, most recently including regulatory approvals of Enhertu in breast cancer and Calquence in leukemia," CEO Pascal Soriot said.

AstraZeneca warned that the coronavirus injected uncertainty into its growth forecast and said the outbreak was expected to weigh on its total revenue and earnings per share. China is the company's fastest-growing market.

Breaking the News / MD