AstraZeneca profits and revenues fall

October 31, 2013

British drugmaker AstraZeneca reported Thursday that third-quarter net profit fell 17.5 percent to 1.25 billion pounds ($200 billion) as the patents on older drugs expired.

The said revenue declined 4 percent to 6.25 billion pounds.

Chief Executive Pascal Soriot says the results were expected and the company is continuing to focus on investment to bring new drugs to market. He says three regulatory filings for new treatments were accepted during the quarter.

"We continue to focus on the strategic priorities of returning to growth and achieving scientific leadership, and this is reflected in continued investment in our growth platforms and our pipeline," Soriot said. "I am pleased with the progress we are making, particularly on the pipeline."

The company says U.S. revenue was down 8 percent in the third quarter. It says U.S hurt by approximately $199 million.

The company also announced it is cooperating with U.S. Justice Department inquiries related to the Plato clinical trial for the blood thinner Brilinta. It also reported it got a subpoena from the U.S. Attorney's office in Boston seeking documents "related to the safety profile of antipsychotic drug Seroquel IR and Seroquel XR.

The company said it intends to cooperate with the inquiries.

Explore further: AstaZeneca in patent warning as net profit falls

Related Stories

AstaZeneca in patent warning as net profit falls

January 31, 2013

(AP)—Anglo-Swedish pharmaceutical company AstraZeneca PLC warned over expiring patents on its medicines as the company announced a 37 percent fall in full-year net profit on Thursday.

AstraZeneca to cut 2,300 jobs in business overhaul

March 21, 2013

(AP)—Struggling drug company AstraZeneca outlined a major restructuring of its business on Thursday, including some 2,300 job cuts worldwide as it overhauls its research operations.

Swiss pharma Novartis ups full-year sales outlook (Update)

October 22, 2013

Swiss pharmaceutical giant Novartis AG raised its full-year sales outlook because of delays in generic competition to its blockbuster blood pressure drug Diovan, even though it said negative currency trends contributed to ...

Recommended for you

Sustaining biomedical research: Med school deans speak out

May 27, 2015

Cuts in federal support and unreliable funding streams are creating a hostile work environment for scientists, jeopardizing the future of research efforts and ultimately clinical medicine, according to leaders of the nation's ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.