AstraZeneca PLC Announces Q1 2016 Results
29 April 2016
Financial Summary
| $m | % change | ||
| CER1 | Actual | ||
| Total Revenue2 | 6,115 | 5 | 1 |
| Core3 Op. Profit | 1,593 | (8) | (12) |
| Core EPS | $0.95 | (7) | (12) |
| Reported Op. Profit | 1,038 | 17 | 11 |
| Reported EPS | $0.51 | 26 | 17 |
- Total Revenue grew by 5%, driven by a significant increase in Externalisation Revenue
- Core R&D costs increased by 15%, reflecting recent acquisitions; Core R&D costs declined versus Q4 2015
- Core SG&A costs fell by 6% and represented 35% of Total Revenue (Q1 2015: 39%)
- Core EPS declined by 7%, reflecting a significant reduction in Other Operating Income
- Reported Operating Profit grew by 17% to $1,038m. Reported EPS grew by 26% to $0.51
- FY 2016 CER guidance unchanged
Commercial Highlights
The Growth Platforms grew by 6%, representing 56% of Total Revenue:
1. Respiratory: +2%. Growth of Pulmicort and newly-acquired medicines offset by a decline in sales of Symbicort
2. Brilinta/Brilique: +46%. Continued encouraging progress; post-MI approval in the EU
3. Diabetes: +23%. Strong sales growth included an increase of +65% in Emerging Markets.
Global Farxiga/Forxiga growth of 128%
4. Emerging Markets: +6%. Good China sales growth of +11%; slowdowns in other regions
5. Japan: -7%, reflecting destocking ahead of mandated biennial price reductions from April 2016
6. New Oncology: Contributed $99m. Launch of Tagrisso in key markets progressing well
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