09 November 2023
If you are covering AstraZeneca’s latest financial results, please find below a comment from Sheena Berry, healthcare analyst at Quilter Cheviot:
“AstraZeneca has delivered good momentum in the third quarter of the year with 13% revenue growth excluding COVID-19 sales and a 9% growth in earnings per share. The company has also raised its full year guidance on the back of this momentum, so 2023 is shaping up to be a profitable one for the pharmaceutical giant.
“The group’s main priority remains on reinvesting in the business with an additional seven pivotal trials initiated in Q3 2023 and on track to initiate 30 over 2023. This is a strong pipeline and will position AstraZeneca strongly for the future. There are some slight risks in that a couple of Enhertu breast trial readouts have been pushed to later than 2024, but we continue to expect a number of oncology readouts during the year so this is likely to be fairly minimal.
“AstraZeneca is also looking to play catch up in the anti-obesity market with Eccogene, which will help with the treatment of obesity, type-2 diabetes and other cardiometabolic conditions.
“All in all this is another solid set of results from AstraZeneca and it is showing why it is the leading pharmaceutical company in the UK. Future growth should continue to be driven by that strong pipeline and operational performance.”
