3rd Quarter Results
THIRD Quarter AND NINE MONTHS Results 2014
London, 6 November 2014
Revenue in the third quarter was $6,542 million, up 5%* - third consecutive quarter of revenue growth. Nine months revenue was up 4%.
· Year-to-date growth platforms up 16%, contributing 54% of total revenue.
· Brilinta: +78%, good momentum across all regions.
· Diabetes: +139%, strong US Farxiga launch and good uptake of Bydureon Pen.
· Respiratory: +11%, US Symbicort growth of 26%.
· Emerging Markets: +12%, with China growth of 22%.
· Japan: stable, impacted by mandated biennial price cuts and increased use of generics.
Core EPS in the third quarter was $1.05, down 8%. Nine months Core EPS declined 3%; better than anticipated in previous full-year guidance.
The Company increases its revenue and Core EPS guidance for the full year 2014.
· Revenue is now expected to increase in low single digits at CER, an upgrade on our previous guidance for revenue to be in line with 2013 at CER.
· For planning purposes this guidance assumes no US Nexium generic in 2014.
· In light of the increase in revenue expectations for the year, the Company is accelerating its investments in its growth platforms and expanding pipeline. Core EPS for 2014 is now expected to decrease at around 10% at CER; better than anticipated in previous guidance. In addition, Core EPS for 2014 at actual exchange rates is expected to be impacted negatively by currency by around 5%, assuming current exchange rates.
To view the full announcement, please click on the following link.