2012 revenue down 15 per cent at AstraZeneca

Revenue fell 15 per cent in 2012 at biopharmaceuticals company AstraZeneca, according to an update published by the FTSE 100 company on Thursday morning.

Revenue fell 15 per cent in 2012 at biopharmaceuticals company AstraZeneca, according to an update published by the FTSE 100 company on Thursday morning.

The company, which manufactures drugs to treat range of cardiovascular conditions, stated that the reduction in revenue reflected a loss of exclusivity on several brands.

Revenue for the full year stood at $27,973m compared to $33,591m in 2011. Pre-tax profit fell to $10,000m, compared to $12,739m a year earlier and operating profit was valued at $10,430m, compared to $13,167m in the previous year.

Core earnings per share (EPS) were down 9.0% at constant exchange rates to $6.41 while reported EPS for the full year were down 29% at constant exchange rates to $4.99.

The company stated that the decline reflected the $1.08-per-share benefit in 2011 from the sale of Astra Tech and higher restructuring costs in 2012.

Pascal Soriot, Chief Executive officer of AstraZeneca, commented: "Our performance in 2012 reflects a period of significant patent expiry and tough market conditions globally.

"Despite the challenges we face, I am excited about AstraZeneca's fundamental strengths which will be key in returning the company to growth and achieving scientific leadership while maintaining our reputation for strong financial discipline.

"It is my firm belief that we have the brands, science, pipeline and people to create distinctive, long-term value for patients and shareholders. Our new leadership team and I look forward to elaborating on these themes at our capital markets day in March."

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
Here’s why markets have shrugged off the US political turmoil
Investment strategy

Here’s why markets have shrugged off the US political turmoil

Despite all the current political shenanigans in the US, markets couldn’t seem to care less. John Stepek explains why, and what it means for your mone…
7 Jan 2021
Free 6 issue trial then continue to