AstraZeneca releases Q1 results

Pharmaceutical firm AstraZeneca has released its sales results for the first quarter of 2008 (Q1), it has emerged.

The firm claimed that at the current exchange rate, sales in emerging markets increased by 11 per cent, while total first quarter sales increased by four per cent.

According to AstaZeneca chief executive officer David Brennan, the company’s performance in Q1 puts it “on track” to achieve its financial targets for the full year.

“We have also announced the motavizumab BLA (US biologics licence application) submission in January – the first of three regulatory filings planned for 2008,” he said.

Mr Brennan added that the firm settled the Nexium patent infringement litigation against Ranbaxy on April 15th and explained that the decision “has provided increased clarity and stability to allow us to continue the substantial investment in our growing pipeline of new medicines.”

An international pharmaceutical firm, AstraZeneca works in partnership with the African Medical and Research Foundation to help combat tuberculosis, HIV and malaria in the African nation of Uganda.