10th Nov 2022 10:48
(Alliance News) - AstraZeneca PLC on Thursday said it was continuing to see the benefit of sustained investment, as it raised its annual guidance on the back of strong results in the year to date.
For the three months ended September 30, the Cambridge, England-based pharmaceutical company reported pretax profit of USD922 million, swinging from a loss of USD2.00 billion a year prior.
Revenue increased by 11% to USD10.98 billion from USD9.87 billion.
AstraZeneca said that revenue growth had come from all disease areas, and was helped by the addition of Alexion Pharmaceuticals, which was incorporated into the group's results from July 21, 2021 following its acquisition.
It also noted key regulatory approvals made over the period, including 19 approvals in major markets since the end of the first half in June.
Due to its strong performance in the year-to-date, AstraZeneca said it would be updating its full-year guidance.
The company said it now expected core earnings per share to increase at constant exchange rates by a high twenties to low thirties percentage, versus previous guidance of a mid-to-high twenties increase.
AstraZeneca also anticipated that total revenue growth would be impacted by a currency headwind of a "mid single-digit percentage".
AstraZeneca shares were trading 2.4% higher at 11,110.00 pence each in London on Thursday morning.
By Holly Beveridge; [email protected]
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