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AstraZeneca PLC Issues FY 2013 Revenue Guidance Below Analysts' Estimates-DJ


Thursday, 31 Jan 2013 02:56am EST 

Dow Jones reported that AstraZeneca PLC expects sharp revenue declines to continue through fiscal 2013 and scrapped its previous guidance as it struggles to right itself after losing patents on many of its key drugs. AstraZeneca expects a mid-to-high single digit percentage decline in revenue for 2013, and withdrew its previous planning assumptions on revenue and margins for fiscal 2010 to fiscal 2014. The company's profits and sales have cratered over the past year due to the so-called patent cliff, the expiration of patents on many top-selling drugs which can't quickly be replaced. The Company reported revenues of $27.793 billion and EPS of $6.41 in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $27.104 billion and EPS of $5.79 for fiscal 2013. 

Company Quote

4578.5
42.0 +0.93%
19 Sep 2014