AstraZeneca reports 2012 financial results

AstraZeneca has announced its full-year financial results for 2012, which reflect the company's loss of exclusivity on several brands.

The pharmaceutical and biologics organisation revealed its revenue fell to 27.9 million dollars (17.7 million pounds) during the 12-month period, while its core earnings per share declined by nine percent.

According to the company, the disposals of Astra Tech and Aptium were the key drivers of a loss of earnings in 2012.

It also announced plans to host a Capital Markets Day on March 21st to provide a strategy update for future operations.

AstraZeneca did experience positive results for its diabetes alliance franchise, which was strengthened by the inclusion of Amylin portfolio and the approval of Forxiga in Europe.

Commenting on the results, Pascal Soriot – the company's chief executive officer – said: "Despite the challenges we face, I am excited about AstraZeneca’s fundamental strengths which will be key in returning the Company to growth and achieving scientific leadership while maintaining our reputation for strong financial discipline."