AstraZeneca 1st-qtr results beat estimates — but concerns over loss of Crestor patent remain
A growth in total revenue driven by selling or out-licensing non-core products, could not prevent core operating profit for the first quarter of 2016 to decline at pharma major AstraZeneca (LSE: AZN).
It was a mixed set of results for the Anglo-Swedish firm, with the $6.12 billion total generated in revenue beating analysts’ predictions by 2.8% and 5% higher than in the first three months of 2015, but core operating profit and earnings per share (EPS) were down 12% compared to a year ago.
Core EPS dropped from $1.08 to $0.95 and the core operating profit reduced by $212 million to $1.59 billion.
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