AstraZeneca 4th-qtr sales rise 8%

Anglo-Swedish drug major AstraZeneca has reported sales for the fourth quarter of 2007 of $8.17 billion, up 8% at constant exchange rates, or 14% on an as reported basis (including an exchange benefit of 6%). The inclusion of MedImmune, the acquisition of which was completed in June last year, more than offset the decline in Toprol-XL (metoprolol) revenue in the USA, due to generic competition. Reported sales in the USA increased 8% and rose the same amount in the rest of the world, as established markets were up 5% and emerging ones saw growth of 18%.

Operating profit in the quarter was $1.93 billion, 7% lower than the like period the previous year. Excluding restructuring and synergy costs, operating profit increased to $2.29 billion, up 11%.

Reported earnings per share were $0.86 compared with $0.93 a year earlier. Excluding restructuring and synergy costs, EPS increased 10% at constant currency, the company noted.