LONDON, July 31 (Reuters) - AstraZeneca smashedforecasts for second-quarter sales and earnings on Thursday,demonstrating resilience after seeing off a $118 billiontakeover approach from rival drugmaker Pfizer two monthsago.
Sales in the first quarter rose 4 percent to $6.45 billion,despite generic competition to some key drugs, generating "core"earnings, which exclude certain items, up 8 percent at $1.30 ashare.
Industry analysts, on average, had forecast sales in thequarter of $6.29 billion and earnings of $1.10 a share,according to Thomson Reuters.
On the back of the strong results AstraZeneca said it wasraising its guidance for the full year.
Revenue is now expected to be in line with 2013 at constantexchange rates - an increase on previous guidance of low-to-midsingle digit percentage decline - and core EPS is set for a lowdouble digit decline, against previous guidance of a percentagedecrease in the teens. (Reporting by Ben Hirschler; editing by Keith Weir)
Astrazeneca (AZN)