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Home Industry News AstraZeneca profits up 38 per cent

AstraZeneca profits up 38 per cent

3rd February 2006

AstraZeneca’s sales for 2005 rose 12 percent to $24.0 billion while profit before tax hit $6.7 billion, a rise of 38 per cent.

The company also announced that its top five products, Nexium, Seroquel, Crestor, Arimidex and Symbicort, had combined sales of $10.9 billion, while ten products broke the $1 billion sales barrier.

AstraZeneca chief executive David Brennan said: “Strong growth from our key products and further improvements in efficiency have contributed to AstraZeneca’s excellent financial performance.

“The output from our discovery organization has grown, and new medicines from both our own and external research have entered late stage development, including those from recent licensing transactions. However we will do more to further strengthen our product pipeline, and this is my number one priority.”

The outlook for the company is dominated by whether it can hold off the challenge from generic drug makers.

The firm recently lost a US court case over the patent for Toprol-XL, which it will appeal against, and also faces cases involving the ulcer treatment Nexium and the schizophrenia drug Seroquel.

The three drugs Toprol-XL, Nexium and Seroquel had sales in 2005 of $1.7 billion, $4.6 billion and $2.8 billion respectively.

AstraZeneca estimates the maximum impact of losing the Toprol-XL patent would be a decrease on 2006 profits of around 12 per cent.

track© Adfero Ltd

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