AstraZeneca exceeds sales and profits forecast amid coronavirus, outlook unchanged

A sign is seen at an AstraZeneca site in Macclesfield, UK. (File photo: Reuters)

Drugmaker AstraZeneca topped second-quarter sales and profit expectations on Thursday and stood by its 2020 forecasts, helped by strong sales in lockdowns of a diverse line-up, which now includes a potential coronavirus vaccine.

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Product sales, which exclude payments from tie-ups, rose 9 percent to $6.05 billion in the three months ended June 30 on a constant-currency basis, surpassing analysts’ consensus of $6.01 billion.

Core earnings stood at 96 cents per share versus analysts’ estimate of 93 cents. Total revenue rose 11 percent, AstraZeneca said.

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Last Update: Thursday, 30 July 2020 KSA 09:38 - GMT 06:38
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