London, April 27, (dpa/GNA) – Core profit has increased at British-Swedish pharmaceutical company AstraZeneca in the first quarter of 2023 compared to the same period a year ago.
AstraZeneca Plc reported that its first quarter profit before tax increased to $2.26 billion from $553 million, last year. Earnings per share was $1.16 compared to $0.25.
Core operating profit was $3.95 billion, an increase of 4% at constant exchange rates (CER). Core operating margin was 36%, up one percentage point. Core earnings per share (EPS) increased 6% to $1.92.
First quarter total revenue was $10.88 billion, down 4% from last year. Total revenue was stable at CER.
Total revenue ex Covid-19 was $10.72 billion, an increase of 10%, or up 15% at CER. First-quarter product sales were $10.57 billion, down 4%, impacted by lower sales of Covid-19 medicines. Product sales increased 1% at CER.
The company reiterated guidance for fiscal 2023 at CER.
Total revenue is expected to increase by a low-to-mid single-digit percentage.
Excluding Covid-19 medicines, total revenue is expected to increase by a low double-digit percentage.
Core EPS is projected to increase by a high single-digit to low double-digit percentage.
“Our pipeline momentum continued with positive Phase III results for a Lynparza-plus-Imfinzi combination in ovarian cancer, Imfinzi in lung cancer, and promising new data for Enhertu across a range of cancer types. Additionally, in the year to date we have started six new Phase III trials and are on track to initiate 30 over the course of 2023,” Pascal Soriot, chief executive of AstraZeneca, said.
GNA