AstraZeneca surpasses revenue expectations as Pfizer bid fades
PHARMA giant AstraZeneca yesterday reported that third-quarter revenues had grown five per cent to $6.54bn (£4.09bn), beating analyst expectations of $6.41bn.
The results mark the FTSE 100-listed firm’s third consecutive quarter of growth, having rejected a £74bn takeover bid by Pfizer in May.
“I’m pleased to report our third consecutive quarter of revenue growth, driven by a strong contribution from our growth platforms,” said chief executive Pascal Soriot.
“Brilinta, respiratory and diabetes, our three core franchises, increased sales by 38 per cent in the quarter, supported by continued selective allocation of sales and marketing resources.”
In a call with reporters Soriot said hopes of a takeover by Pfizer remained unlikely after US tax changes.
AstraZeneca’s shares slipped 0.62 per cent to close at 4,591.50p.