31 July 2023
If you are covering AstraZeneca’s latest financial results, please find below a comment from Sheena Berry, equity research analyst at Quilter Cheviot:
“AstraZeneca has delivered a good quarter with its Imfinzi oncology drug and the heart failure and kindey disease medicine Farxiga driving better performance. This backdrop also allowed it to maintain its full-year guidance and the growth outlook remains attractive.
“Where it differs from other UK listed peers is with its pipeline, which remains busy and strong. AstraZeneca has initiated nine pivotal trials so far this year and remains on track to start 30 over the course of the year. This impressive pipeline will be complemented by the plan to buy Pfizer’s early stage portfolio of gene therapies.
“Crucially, these trials are also yielding results. After the market reacted negatively to the recent headline clinical trial results on the lung cancer drug Dato-Dxd, it is encouraging that it has shown sufficient results that AstraZeneca is taking the data to the US regulator and will share detailed data later this year. These successes help underpin the investment case for AstraZeneca and highlight the success it has had over recent years. We believe it is very well positioned to continue this positive momentum.”
