AstraZeneca reports robust first quarter results


29-04-2020
Pascal Soriot, Chief Executive Officer

AstraZeneca delivered a quarter of strong revenue and profit growth, reflecting the immense efforts of supply-chain, commercial and other colleagues around the world to get vital medicines to patients. As part of the fight, the Company has rapidly responded to the pandemic, firstly in China and then globally.

The company reported total revenue growth of 16% to o $6.354 billion, including product sales up 15% at $6.311 billion. Total revenue increased in the quarter across all three therapy areas - Oncology; Cardiovascular, Renal and Metabolism (CVRM); and Respiratory & Immunology - and in every region.

Pascal Soriot, Chief Executive Officer (pictured), commented:“Our focus ensured another quarter of strong growth across every therapy area and region. The new medicines performed  extremely  well,  and  our  pipeline  continued  to  deliver.  Standouts  included  landmark  news  for Tagrisso, Farxiga and Koselugo,  our  latest  oncology  medicine.  The  progress  made  on  all  fronts  provides confidence that we will, once again, meet our full-year commitments.

"I could not be prouder of how the AstraZeneca team has responded to the challenges of COVID-19. We moved quickly to maintain continuity of care, contribute to society, and use our scientific expertise to fight the pandemic. We  hope  our  efforts  to  protect  organs  from  damage, mitigate the  cytokine  storm and  the  associated hyperinflammatory state, and target the virus prove to be successful.”

COVID-19

The Company donated nine million face masks to support healthcare workers around the world, delivered in collaboration with the World Economic Forum’s COVID Action Platform.

AstraZeneca also contributed to the UK Government’s testing effort with a dedicated site in Cambridge operated in collaboration with the University of Cambridge and GlaxoSmithKline plc(GSK), with a goal to deliver 30,000 tests a day in May 2020.

The Company has mobilised  research  efforts to  find  new  ways to help target the  virus, reduce the cytokine storm, arising from an overactive immune response, and potentially protect organs. As part of the effort to target the virus, the Company is identifying novel SARS-CoV-2-neutralising monoclonal antibodies that can be used for treatment, as well as a prophylaxis against viral infection.

AstraZeneca is evaluating the use of Calquence, approved in a number of countries for the treatment of chronic lymphocyticleukaemia, in the Phase II CALAVI trial, which is assessing the suppression of the cytokine storm that inflames the lungs and other organs of some COVID-19 patients.

The Company is also looking at protecting organs in the Phase III DARE-19 trial, assessing whether Farxiga, an oral medicine that has demonstrated benefits in heart failure and kidney disease, can potentially reduce organ failure. The Company has also joined the UK  Government’s  ACCORD-2 proof-of-concept clinical-trial  platform, to  speed  the  development of medicines for patients with COVID-19.

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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.

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