AstraZeneca PLC
28 July 2016 07:00
This announcement contains inside information.
H1 2016 Results
Financial Summary
H1 2016 Q2 2016
% change % change
$m CER1 Actual $m CER1 Actual
Total Revenue 11,718 (3) (5) 5,603 (10) (11)
Product Sales 11,034 (2) (5) 5,469 (5) (6)
Externalisation 684 (12) (12) 134 (72) (72)
Revenue
Reported 1,341 (24) (28) 303 (64) (67)
Operating Profit
Core Operating 2,999 (14) (17) 1,406 (21) (22)
Profit2
Reported $0.51 (45) (48) $0.00 (99) (100)
Earnings Per Share
(EPS)
Core EPS $1.78 (20) (22) $0.83 (31)
· Total Revenue down by 3% as expected, reflecting a 2% decline in Product
Sales that was driven by patent expiries, in particular Crestor in the US. The
phasing of Externalisation Revenue is towards H2 2016
· Reported and Core R&D costs increased by 6% and 9% respectively;
Reported SG&A costs were stable, with Core SG&A costs declining by 5%,
supporting full-year commitments
· Reported EPS declined 45%, negatively impacted by restructuring charges
related to the recently-announced cost reduction programme. Core EPS declined
20%, reflecting the phasing of Externalisation Revenue to the second half of the
year
· An unchanged first interim dividend per share of $0.90
· FY 2016 guidance unchanged
Commercial Highlights
The Growth Platforms grew by 7% in the half. Of the six platforms, the
performance included:
· Emerging Markets: +7%. Encouraging China growth of 11%
· Diabetes: +18%. A good performance underpinned by the success of Farxiga
· Respiratory: +1%. Strong Emerging Markets sales of Symbicort, pricing
compression in the US and Europe
· New Oncology: Sales of $251m reflected the successful ongoing launch of
Tagrisso
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