29th Apr 2016 06:16
LONDON (Alliance News) - AstraZeneca PLC on Friday reiterated its full-year guidance for 2016 at constant currency, as it said revenue rose 5% in the first quarter on a constant currency basis, driven by a significant increase in externalisation revenue.
At actual exchange rates, revenue grew by 1.0% to USD6.12 billion in the first quarter of 2016 from USD6.06 billion a year before.
AstraZeneca said it expects an adverse hit to its revenue of around 2% from currency movements based on average exchange rates in the full year 2016.
The company reiterated expectations for its core earnings per share and total revenue both are for a low- to mid-single-digit percentage decline in 2016, including dilutive effects arising from its acquisitions of Acerta Pharma and ZS Pharma during 2015.
AstraZeneca's core results exclude amortisation, impairment, charges and provisions related to restructuring and other exceptional costs.
Core earnings per share was down 7% at constant currency in the first quarter.
"We delivered a first-quarter performance in line with expectations, with the growth in total revenue underpinned by the performance of the Growth Platforms. I was particularly pleased with the results in China, where we continued to deliver double-digit sales growth, and with the progress of our New Oncology launches," said Chief Executive Officer Pascal Soriot in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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