AstraZeneca cholesterol drug Crestor drove the company’s third-quarter financials forward as generic competition significantly affected other medications.
Although revenues fell 2% to approximately $8.2bn, Crestor reported a sales increase of 14% to $1.66bn, with US sales rising 20% and total prescriptions up 3%.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company also benefitted from strong performances from the antipsychotic Seroquel and Seroquel XR, with sales rising 4% and 24% respectively.
AstraZeneca’s oncology portfolio fell significantly, however, with a number of patent expiries impacting on drug performance. Arimidex sales fell 44% to $176m, whereas Casodex declined by 9%.
AstraZeneca chief executive David Brennan said: "We have delivered a third-quarter revenue and core earnings performance in line with our expectations, against the backdrop of anticipated generic competition and government price interventions."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
