Positive...8 Aug 2021 22:53
AstraZeneca eyes big jump in revenue after Alexion acquisition
In the first half of the year, the COVID-19 vaccine delivered sales twice the consensus view
AstraZeneca PLC - AstraZeneca eyes big jump in revenue after Alexion acquisition
AstraZeneca PLC (LSE:AZN) has announced higher full-year guidance to include the newly acquired Alexion, after the transaction was completed last week.
The pharma giant expects total revenue to jump 21-22%, with core earnings per share (EPS) from US$5.05 to US$5.40.
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The forecast doesn’t include revenue or profit impact from sales of the pandemic COVID-19 vaccine, as the effects of the pandemic remain uncertain.
In the half year ended 30 June, revenue climbed 31% to US$8.2bn, with core EPS up 26% to US$2.53 per share.
New medicines were up 31%, oncology advanced 19% while respiratory and immunology increased by 11%.
The COVID-19 vaccine generated US$894mln of sales, twice the consensus view of US$422mln.
The jab was beneficial in lifting performance in the emerging markets segment, where sales were up 26%, with Europe and the US up 33% and 16% respectively.
Profit before tax came in at US$2.3bn from US$1.8bn last year.
Analysts at Shore Capital said this was “a steady quarter” and broker forecasts will need to be updated based on the Alexion addition.