AstraZeneca's 1st-qtr shows resiliance
AstraZeneca's 1st-qtr shows resilience
Anglo-Swedish drug major AstraZeneca post first-quarter 2009 results, just as the Marketletter went to press, showing that revenue for the period was $7.7 billion, up 7% at constant exchange rates but flat on an actual basis. Operating profit leapt 37% to $3.16 billion (+40% actual), pretax profit rose 36% (40% actual) to $3.0 billion, with earnings per share reaching $1.48 versus $1.03 in the like, 2008 quarter.
Chief executive David Brennan said: "our business has proved to be resilient...the result of excellent execution in driving growth in key product franchises in all regions, while delivering improvements in operating efficiency."
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