6th Feb 2014 07:43
LONDON (Alliance News) - AstraZeneca PLC said Thursday it saw revenue and pretax profit decline in the full year ended December 31, 2013, as it continued to be hit by the loss of exclusivity on several of its brands and increased competition from generics.
The pharmaceutical giant posted revenue of USD25.71 billion, down 8.1% from USD27.98 billion in the previous year. Pretax profit was USD3.27 billion, down 57% from USD7.65 billion in the previous year.
US revenues were down 9%, hit by the loss of exclusivity, and revenue in the rest of the world was down 4%.
AstraZeneca said it expects to see low-to-mid single digit percentage decline in revenue at constant exchange rates for 2014, with core earnings per share expected to decline in the teens.
AstraZeneca announced a second interim dividend of USD1.90 per share, bringing its full year dividend to USD2.80, flat on 2012.
The company said that it had 19 candidates for potential Phase III trials to start in 2014 to 2015, and the integration of Britsol-Myers Squibb's share of the two companies diabetes alliance was "occurring at pace", AstraZeneca said.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Astrazeneca