Pascal Soriot, AstraZeneca's Chief Executive Officer, commenting on Q1 2014 results, said: "The first quarter has seen continued momentum across the business and our revenue growth reflects the increasing contribution from the five growth platforms that showed strong performance.
AstraZeneca posts first quarter results
“I am pleased with the significant progress we are making towards achieving scientific leadership in our core therapeutic areas. We have confirmed our decision to advance four programmes to Phase III in oncology and respiratory disease. The Breakthrough Therapy designation for AZD9291 in non-small cell lung cancer and the Priority Review granted for olaparib in ovarian cancer by the FDA act as a reminder of the distinctive science that AstraZeneca can bring to patients.
“We are investing in our rapidly progressing pipeline and the key platforms that are the backbone of our strategy to return to growth. To further concentrate organisational focus, we will continue to redeploy our resources in our core priorities and pursue opportunities that maximise the value of our pipeline and portfolio.”
First quarter results 2014
Announced on Thursday 24 April 2014
Revenue up 3% at constant exchange rates (CER) in first quarter. Consolidation of full diabetes franchise contributed 2 percentage points of revenue growth. All growth platforms growing strongly.
- Brilinta sales $99 million (+94% CER), diabetes $347 million (+106% CER), respiratory $1,271 million (+12% CER), Emerging Markets $1,421 million (+11% CER) and Japan $537 million (+13% CER).
Significant progress made towards achieving scientific leadership in core therapeutic areas.
- AZD9291 has been granted Breakthrough Therapy designation by the US FDA for the treatment of patients with metastatic, EGFR T790M mutation-positive, non-small cell lung cancer (NSCLC) whose NSCLC has progressed during treatment with an FDA-approved, EGFR tyrosine kinase inhibitor.
- Olaparib accepted for Priority Review by the US FDA in BRCA-mutated platinum-sensitive relapsed ovarian cancer.
- Phase III investment decisions made for MEDI4736, AZD9291, benralizumab and tralokinumab.
Integration of BMS part of diabetes alliance proceeding as planned. Strong launch of Farxiga in the US and continued success in Germany; Forxiga approved in Japan.
The Company maintains its financial guidance for 2014.
AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases.