AstraZeneca 2Q profit down 12%
This article was originally published in Scrip
AstraZeneca expects higher costs in 2013 compared to last year as it strives to invest its way out of falling sales. Q2 figures were broadly in line with consensus estimates, with revenue dropping 4% to $6.23bn. Profit fell 12% as generic competition to big-sellers such as Crestor and Seroquel eroded sales by around $500m.
You may also be interested in...
The UK's main reimbursement bodies made a series of decisions this week that were broadly favorable and largely focused on oncology medicines.
While troubled Valeant was divesting iNova to private equity investors, Novartis announced a pair of oncology-focused deals, out-licensing a brain cancer drug to Midatech and partnering with IBM Watson Health to optimize breast cancer treatment.
Astellas and Pfizer have amended the PROSPER trial protocol in a bid to position Xtandi ahead of Zytiga in the early stage prostate cancer market.