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AstraZeneca returns to sales growth, led by cancer medicines

Reuters  |  LONDON 

(Reuters) - Strong demand for AstraZeneca's new drugs - especially those for cancer - drove a return to sales growth in the third quarter and the drugmaker said it now expected a period of sustained growth "for years to come".

Product sales in the three months rose 8 percent, or 9 percent in constant currencies, which is the benchmark uses for measuring the return to growth, which it has been promising for 2018.

Total revenue, however, fell 14 percent in dollar terms to $5.34 billion and core earnings per share, which exclude some items, were down 37 percent to 71 cents, reflecting lower income from divestments and investment behind new drug launches.

Analysts, on average, had forecast earnings of 72 cents on revenue of $5.30 billion, data showed. For the full year, the company kept its financial guidance unchanged.

(Reporting by Ben Hirschler; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 08 2018. 12:59 IST