Headline results for the second quarter:
Revenue: $11.4 billion (forecasts of $10.97 billion), up 6%
Profit: $1.8 billion, versus $360 million in the prior year
Note: All changes are versus the prior-year period unless otherwise stated
Commenting on performance for the year to date, AstraZeneca noted that each of its non-COVID-19 therapy areas saw double-digit revenue growth, with eight medicines delivering more than $1 billion of revenue in the first half of 2024. CEO Pascal Soriot said: “our pipeline momentum continues with eight positive pivotal trials for our oncology medicines so far this year, and we are encouraged by the positive data from TROPION-Lung01, the first pivotal trial of datopotamab deruxtecan. We look forward to sharing the data with the medical community at an upcoming medical congress and are proceeding to file the data with the FDA.” Oncology product sales: $4.4 billion, up 18%
Tagrisso: $1.5 billion, up 7%
Calquence: $653 million, up 34%
Enhertu: $67 million, with the company also recording $255 million in alliance revenue from the product from partner Daiichi Sankyo Rare disease product sales: $2 billion, up 8%
Soliris: $814 million, down 21%
Respiratory and immunology product sales: $1.5 billion, up 7%
Symbicort: $600 million, down 2%
Fasenra: $406 million, up 15%
Pulmicort: $124 million, up 7%
Emerging market sales: $3.1 billion, up 12%, with sales in China flat at $1.4 billion
AstraZeneca reaffirmed that it expects revenue this year to increase by a low-to-mid single-digit percentage on a constant exchange rate basis, while stripping out COVID-19 medicines is forecast to lead to a low double-digit percentage rise. The company indicated that sales in China are expected to return to growth and increase by a low to mid single-digit percentage. Meanwhile, core earnings per share are seen increasing by a high single-digit to low double-digit percentage.