AstraZeneca Raises 2022 Guidance After Swing to Q3 Profit and Rising Sales – Update

By Cecile Butini

AstraZeneca PLC raised its full-year guidance on Thursday after reporting a return to net profit and increased sales for the third quarter of the year, both of which beat consensus expectations.

The major Anglo-Swedish pharmaceutical company made a pre-tax profit of $922 million compared to a pre-tax loss of $2 billion the previous year, when it was hit by fair value adjustments to inventory of Alexion after acquiring the company.

After tax, profit was $1.64 billion, compared to a loss of $1.65 billion the previous year. Analysts had expected the company to post a net profit of $629 million.

Basic earnings per share were $1.67, up 55% from a year earlier, beating analysts’ expectations of $1.52.

Revenue reached $11 billion in the quarter, compared to $9.87 billion in the prior year, driven by growth in all disease areas as well as the addition of Alexion Pharmaceuticals, and outpacing analysts’ expectations of $10.84 billion.

Revenues from the company’s oncology segment increased 24% in the first nine months of the year, while sales of oncology products increased 20%.

AstraZeneca reported lower revenue from its Covid-19 vaccine, as it had previously expected. The stunt had total revenue of $180 million, up from $1.05 billion in the third quarter of 2021 when the company started selling it for a profit. In general, revenues in some markets, such as emerging markets, have declined due to lower sales of the vaccine.

Key drugs such as lung cancer treatment Tagrisso, liver cancer treatment Imfinzi and ovarian cancer drug Lynparza all showed increased sales in the third quarter, the company said.

The company raised its outlook on basic earnings per share as it expects the metric to grow by a high 20 to 30 percent, up from a previous outlook for mid-to-high percent growth. of 20.

Total revenue is still expected to grow by a low 20 percent, as the company had previously forecast.

Write to Cecilia Butini at

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