09 February 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 delivered mixed fourth quarter results, with sales a touch light, but with earnings per share better than expected. This was driven by some beats, but crucially it also missed on key products. One of the main takeaways from these results is the outlook. Management was keen to provide reassuring guidance for 2023 with double digit growth expected, excluding COVID-19 sales – the group expected its antibody treatment and vaccine to decline significantly in 2023 as the world continues to move on from the pandemic.
“Astra’s share price outperformed in 2022 driven by the company executing with its pipeline and financially. Unlike its competitor GSK, AstraZeneca has a full pipeline with the group expecting to initiate more than 30 Phase III trials in 2023. A number of pivotal readouts are expected in 2023 but the main focus is currently on the upcoming results of Dato-Dxd in refractory lung cancer which has blockbuster potential if successful.
“If it is, or if it can get good outcomes from its other trials, AstraZeneca is well positioned to continue its positive momentum.”
