AstraZeneca beats expectations despite patent cliff

AstraZeneca continues to feel the effects of the expiry of patents on key brands, with revenues declining in the third quarter, although it has maintained its core earnings per share (EPS) target, as defined by the company, for the full year.

AstraZeneca continues to feel the effects of the expiry of patents on key brands, with revenues declining in the third quarter, although it has maintained its core earnings per share (EPS) target, as defined by the company, for the full year.

Revenues for the quarter at $6,682m were down 15% at constant exchange rates, with loss of exclusivity on several brands and the disposals of Astra Tech and Aptium cited as the key reasons for the revenue decline.

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