AstraZeneca’s profits dip

Manufacturing News, Source : TheManufacturer.com
Published : 29 Jan 2004 11:33

Pharmaceuticals giant AstraZeneca reported an 11 per cent drop in annual profits today but said it was well placed for strong growth in 2004.

Operating profit for the full year was $4.1 billion, down 11 percent as a result of the investments the company was making in the R&D and SG&A (selling, general and administrative) activities needed to modernise its drugs offerings.

The company said sales for key growth and launch products increased by 45 percent to $8.2 billion and now comprised 44 per cent of total company sales.

AstraZeneca has high hopes for its stroke prevention treatment Exanta which has received its first regulatory approval (in France) with regulatory submissions also having been made in the US and Europe. Chief executive Sir Tom McKillop said: “Achievements in 2003 when sales of key growth and launch products increased by 45 per cent to $8.2 billion, propel AstraZeneca into an era of strong sales and profit growth, with a financial performance likely to rank amongst the best of our peer group.”

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