AstraZeneca touts potential of bispecifics as oncology product sales grow 16% in Q3

09 Nov 2023
firstwordpharma.com
Phase 2Phase 1Phase 3Financial StatementBiosimilar
AstraZeneca touts potential of bispecifics as oncology product sales grow 16% in Q3 Headline results for the third quarter:
Revenue: $11.5 billion, up 5%
Profit: $1.4 billion, down 16%
Note: All changes are versus the prior-year period unless otherwise stated
What the company said:“Our company continued its strong growth trajectory in the third quarter with total revenue from our non‑COVID-19 medicines up 13% compared to last year,” remarked CEO Pascal Soriot. “Given the momentum in the year to date we have increased our full-year guidance,” the executive added.
Soriot also touted the company’s bispecific antibodies, including volrustomig, which targets PD-1/CTLA-4 and moved into Phase III studies this year in high-risk locally advanced cervical cancer and first-line metastatic non-small-cell lung cancer. “Our portfolio of bispecifics has the potential to replace the first-generation checkpoint inhibitors across a range of cancers,” the chief executive said.
Other results:
Oncology product sales: $4.4 billion, up 16%
Tagrisso: $1.5 billion, up 5%
Imfinzi: $1.1 billion, up 53%
Lynparza: $702 million, up 7%
Calquence: $654 million, up 16%
Enhertu: $73 million
Cardiovascular, renal and metabolic disease product sales: $2.7 billion, up 14%
Farxiga: $1.6 billion, up 41%
Brilinta: $331 million, down 2%
Lokelma: $102 million, up 30%
Roxadustat: $74 million, up 31%
Rare disease product sales: $2 billion, up 13%
Soliris: $781 million, down 13%
Ultomiris: $777 million, up 50%
Respiratory and immunology product sales: $1.5 billion, up 2%
Symbicort: $555 million, down 12%
Fasenra: $389 million, up 10%
Emerging market sales: $3 billion, up 4%, with revenue in China down 6% at $1.5 billion
Looking ahead:AstraZeneca now expects revenue for this year to grow by a mid-single-digit percentage range at constant currencies, lifted from a previous range of a low- to mid-single-digit percentage increase. Meanwhile, core earnings per share are projected to climb by a low-double-digit to low-teens percentage, boosted from an earlier forecast of growth in the high single-digit to low double-digit percentage. Pipeline updates:Along with volrustomig, AstraZeneca has the oncology bispecifics rilvegostomig and sabestomig in its pipeline, and disclosed that it recently moved AZD5863 into Phase I development for solid tumours. The Claudin 18.2/CD3 bispecific antibody, also known as HBM7022, was in-licensed from Harbour BioMed last year.
In other pipeline developments during the quarter, AstraZeneca halted the Phase II MONETTE study of the ATR inhibitor ceralasertib plus Imfinzi in certain patients with melanoma due to futility. Also facing the chop from mid-stage development due to a lack of efficacy was the oral factor D inhibitor vemircopan in paroxysmal nocturnal haemoglobinuria (PNH). However, the drug continues to be investigated in other trials, including for generalised myasthenia gravis.
AstraZeneca also axed tarperprumig from Phase II development for sickle cell disease, with the anti-properdin bispecific cut “due to strategic portfolio prioritisation.” In addition, the company discontinued work on subcutaneous administration of the anti-complement C5 monoclonal antibody Ultomiris for adults with atypical haaemolytic uraemic syndrome or PNH as it has been unable to “reliably secure the availability of the on-body delivery system.
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