AstraZeneca Q1 2015 profit dropped

Noam Stiekema

The second-largest pharmaceutical company in UK AstraZeneca Q1 2015 profit dropped, due to weaker sales of two of her most popular medicines and currency fluctuations. Part of the profits fell by 7% to 1.37 billion USD, or 1.08 dollars per share. An year ago the company reported profit of 1.47 billion USD, or 1.17 USD […]

AstraZeneca

AstraZenecaThe second-largest pharmaceutical company in UK AstraZeneca Q1 2015 profit dropped, due to weaker sales of two of her most popular medicines and currency fluctuations. Part of the profits fell by 7% to 1.37 billion USD, or 1.08 dollars per share. An year ago the company reported profit of 1.47 billion USD, or 1.17 USD per share. The total revenues in Q1 2015 amounted to 6.06 billion USD, as last year they were 40 million USD more.

Sales of two of the best selling medicines of AstraZeneca – Nexium and Crestor. fall because of the expiration of their patents. At the same time revenues from new medicines grow at a slower pace than what analysts had predicted. The sales will shrink this and next year, before the expected increase in 2017, when the new medicines will raise revenue, says AstraZeneca.

Nexium sales fell by 31% to 644 million USD in the first quarter, although it exceeded the forecast of 589 million USD.

AstraZeneca is facing difficulties in the implementation of short-term goals and the promise of CEO Pascale Soriano is to increase annual revenue of 26 billion USD last year to 45 billion USD in 2023. In this regard, currently held AstraZeneca has 72 cancer researches. It aims to present for approval AZD9291, a medicine for the treatment of lung cancer worth at 3 billion USD.

AstraZeneca seek other sources of revenue, including market partnerships. Last month, the company announced that Tokyo-based Daiichi Sankyo Co will sell in the US Movantik their medicine in exchange for 200 million USD advance and to 625 million USD of sales. Such agreements, however, may not be the best strategy, says Alistair Campbell, an analyst at Berenberg. According to him, revenues have increased due to the partial sale of some medicines, but these actions raise concerns if the company does not use long-term options to ensure short-term profits.

AstraZeneca confirmed its forecast for a decline in revenue of up to 10% in 2015 at constant exchange rates, the basic earnings per share will also be increased by up to 10% on the same basis. Soriano made a forecast of the company’s sales last year, when successfully overcame the experience of Pfizer AstraZeneca to absorb the amount of 117 billion USD. Last month, the company said that by 2023 its new cancer medicine can generate a quarter of sales, after last year they accounted for only 12%.

Read this next

Digital Assets

Crypto.com expands its presence in Turkey with new products

Crypto.com, a Hong Kong-based cryptocurrency exchange platform, is set to accelerate its growth in Turkey, singling out the country as a market with huge potential.

Digital Assets

Binance buys Japanese crypto exchange Sakura BitCoin

Binance, the world’s largest crypto exchange by traded volume, has made a fresh bid to enter Japan with the acquisition of Japanese-registered crypto exchange service provider Sakura Exchange BitCoin (SEBC). The financial terms of the transaction were not disclosed.

Industry News, Inside View

Viacheslav Taran: FX and Crypto industry mourns death of Libertex Group co-founder

FinanceFeeds reports with great sadness that Viacheslav Taran, Co-Founder of Libertex Group, passed away last Friday. 

Digital Assets

FTX founder SBF called to testify by Texas regulator

The Texas State Securities Board (TSSB) has called on Sam Bankman-Fried to testify during an administrative hearing scheduled for Feb. 2, 2023. The move marks yet another expansion of enforcement agencies’ probes into FTX’s activities following its insolvency.

Digital Assets

Despite FTX chaos, Italy welcomes crypto lender Nexo

Crypto lender Nexo has won regulatory approval from Italy’s financial regulators, allowing the exchange to continue serving Italian customers.

Institutional FX, Interviews

ION Markets for execution and clearing: Francesco Margini at FIA EXPO 2022

The CPO of Cleared Derivatives at ION Markets spoke about the need for automated execution and clearing in times of surging volumes and increased volatility.

Institutional FX

FIA EXPO 2022: Baton Systems President on building post trade rails for capital markets

As the world’s largest trade show for the listed derivatives dealers, the FIA Futures and Options Expo is a high point for the global cleared swaps community, with dozens of panels, educational sessions, networking opportunities and more.

Inside View

Olga Taran releases public statement in Monaco regarding “false accusations” against her late husband Viacheslav

Vyacheslav Taran, 53, founder of Forex Club and CEO of Libertex Group, was the sole passenger of a helicopter that crashed in Villefranche-sur-Mer this weekend. The helicopter crash is still under investigation, and authorities have not indicated any possibility of foul play.

Industry News

Brokeree Solutions Wins the “Best Emerging Fintech” Award

2022 has become, for Brokeree Solutions, a time of new inventions and developments. We are pleased that the industry has appreciated this emergence of new technologies

<