AZN - AstraZeneca Posts Bumper Earnings On Strong Sales From Cancer Drugs Sticks To Annual Guidance | Benzinga
Thursday, AstraZeneca Plc (NASDAQ:AZN) reported first-quarter sales of $12.68 billion, up 17% year over year (+19% at constant currency), slightly below the consensus of $11.83 billion.
This was fueled by an 18% increase in Product Sales and continued growth in Alliance Revenue from partnered medicines.
The company’s adjusted EPADS reached $1.03, missing the consensus of $1.22.
Also Read: AstraZeneca Hikes Annual Dividend By 7% Just Before Vote On Its CEO’s Pay Package Boost.
R&D expenses rose about 18% to $2.7 billion, while sales, general, and administration costs were up 13% on higher marketing spend for new drug launches.
AstraZeneca’s top business, oncology, delivered a 26% jump in first-quarter ...