US EditionUK's biggest drugmakers see surprise profit bump, even as pharma grapples with U.S. policies
AstraZeneca posted $15.3 billion in first-quarter revenue, while GSK reported revenue in line with expectations as industry leaders warned on U.S. pricing pressure.
- On Wednesday, pharmaceutical giants AstraZeneca and GSK beat first-quarter profit expectations, driven by strong sales of cancer treatments that accounted for 45% of AstraZeneca's revenues.
- CEOs from AstraZeneca and Novartis have warned that President Donald Trump's "most-favored-nation" drug pricing policy risks limiting new medicine launches in Europe by tying U.S. prices to lower international benchmarks.
- AstraZeneca reported $3.08 billion in first-quarter profit with $15.3 billion in revenue, while GSK posted a 5% year-on-year revenue rise to $10.3 billion, supported by 28% growth in cancer medicine sales.
- Shares in both firms fell despite the profit beats, with GSK off 4% and AstraZeneca down 2%, as investors reacted to both companies holding off on full-year earnings outlook upgrades.
- Novartis CEO Narasimhan told CNBC on Tuesday that the "reality of MFN" has yet to materialize but will start impacting the industry significantly within the next 18 months.
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Associated Press News
The Seattle TimesAstrazeneca tops expectations in the first quarter on strong cancer drug sales
Astrazeneca is reporting first-quarter profit of $3.08 billion. The Cambridge, Britain-based company reported net income of 99 cents per share on Wednesday.
The Independent
perspectivemedia.comShot in the arm for GSK and AstraZeneca from cancer drug sales
The blue chip drug makers saw first quarter earnings beat market expectations.
AstraZeneca has presented the results of the first quarter of the year. The company has reached a total income of 15,288 million dollars, representing an increase of 8% compared to the same period of the previous year. This performance, which exceeds the forecasts of the company, has been supported by a strong double growth [...] The entry AstraZeneca exceeds expectations with an increase of 8% in the first trimester aparece primero en Forbes Es…
What next for AstraZeneca shares, after another cracking quarter?
AstraZeneca (LSE: AZN) shares wobbled a bit Wednesday morning (29 April), even though the pharma giant reported more than $15bn in first-quarter revenue. The results beat expectations, and the company reaffirmed its positive full-year guidance. CEO Pascal Soriot told us the company is “on track to achieve our ambition for 2030 and beyond.” The share price dipped a couple of percent, edging into negative territory year to date. But AstraZeneca is…
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