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
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020