Revenue last year was boosted by a bumper haul of “externalization” deals, involving asset sales as well as collaborations with various other companies, which some analysts have criticised for flattering results.
Such deals contributed $2.3 billion in 2017 out of total revenue of $22.5 billion, although AstraZeneca said they had peaked as well as could decline in 2018.
AstraZeneca has had some notable brand-new product successes recently, with oncology pills Tagrisso as well as Lynparza both doing well as well as progress in various other areas, including novel treatments for lung disorders.
Its heart drug Brilinta as well as Farxiga for diabetes have also both just breached the $1 billion annual sales mark, while its business in China will be outgrowing rivals as well as Soriot said he expected continued growth above 20 percent.
AstraZeneca also announced two brand-new deals with Chinese tech giants Alibaba as well as Tencent on Friday, designed to optimize drug use as well as fight counterfeit medicines.
Still, the pace of its turnaround remains uncertain pending further clinical trial read-outs within the multibillion-dollar cancer immunotherapy market, where AstraZeneca’s Imfinzi will be going head to head with rival drugs coming from Merck, Bristol-Myers Squibb, as well as Roche.
“The very successful launch within the coming months of Imfinzi in lung cancer will be crucial if AstraZeneca will be going to make up lost ground,” said Trinity Delta analyst Mick Cooper.
AstraZeneca suffered the biggest ever daily fall in its shares last July, following disappointing initial results coming from a lung cancer trial dubbed Mystic. Since then the shares have rallied, helped by Great news coming from two various other studies.
Further data coming from the Mystic trial will be due within the first half of which year.
Fourth-quarter core EPS, which excludes some items, increased 7 percent to $1.30 cents on revenue of $5.78 billion, helped by one-off tax gains. Analysts, on average, had forecast earnings of 84 cents on revenue of $5.46 billion.