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AstraZeneca eyes big jump in revenue after Alexion acquisition

In the first half of the year, the COVID-19 vaccine delivered sales twice the consensus view

AstraZeneca PLC - AstraZeneca eyes big jump in revenue after Alexion acquisition

AstraZeneca PLC (LSE:AZN) has announced higher full-year guidance to include the newly acquired Alexion, after the transaction was completed last week.

The pharma giant expects total revenue to jump 21-22%, with core earnings per share (EPS) from US$5.05 to US$5.40.

READ: AstraZeneca says Alexion receives recommendation to use rare blood disorder drug in kids

The forecast doesn’t include revenue or profit impact from sales of the pandemic COVID-19 vaccine, as the effects of the pandemic remain uncertain.

In the half year ended 30 June, revenue climbed 31% to US$8.2bn, with core EPS up 26% to US$2.53 per share.

New medicines were up 31%, oncology advanced 19% while respiratory and immunology increased by 11%.

The COVID-19 vaccine generated US$894mln of sales, twice the consensus view of US$422mln.

The jab was beneficial in lifting performance in the emerging markets segment, where sales were up 26%, with Europe and the US up 33% and 16% respectively.

Profit before tax came in at US$2.3bn from US$1.8bn last year.

Analysts at Shore Capital said this was “a steady quarter” and broker forecasts will need to be updated based on the Alexion addition.

Shares were flat at 8,287p on Thursday morning.

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