Latest news with #Anglo-Swedish
Reuters
02-05-2025
- Health
- Reuters
AstraZeneca's 'smoker's lung' therapy meets main goals of late-stage asthma trials
May 2 (Reuters) - AstraZeneca (AZN.L), opens new tab said on Friday its triple-combination inhaler Breztri Aerosphere met all main goals in two late-stage trials for uncontrolled asthma, showing clinically meaningful improvement in lung function. The Anglo-Swedish drugmaker's therapy, already approved for the treatment of Chronic Obstructive Pulmonary Disease or "smoker's lung", was being compared with a dual-combination maintenance treatment in the trials. here. The results come as AstraZeneca targets $80 billion in revenue by 2030, after first-quarter sales this week missed expectations on weaker oncology drug performance. Asthma is a common but chronic lung disease that makes breathing difficult due to inflammation and muscle tightening. It affected 262 million people and caused 455,000 deaths in 2019, according to the World Health Organization, opens new tab. "The results from the ... trials are exciting and demonstrate the potential of budesonide/glycopyrronium/formoterol to evolve the standard of care to more effectively treat asthma in a single inhaled triple therapy," said Alberto Papi, primary investigator of the studies, referring to the compounds in Breztri Aerosphere. AstraZeneca said on Friday it would share detailed results from the trials with authorities and seek to broaden approvals for Breztri, which brought in sales of $978 million last year and competes with GSK's Trelegy Ellipta.
Business Standard
29-04-2025
- Business
- Business Standard
AstraZeneca says potential US tariffs manageable; faces another China fine
AstraZeneca expects only limited impact from potential U.S. tariffs on pharmaceutical imports, the drugmaker said on Tuesday, asserting it would maintain its 2025 forecasts if the levies end up being in line with other sectors. The tariffs and their erratic rollout by President Donald Trump have heightened fears of global supply chain disruptions, roiling industries that are heavily focused on the United States, the world's biggest consumer market. However, AstraZeneca Chief Executive Pascal Soriot said in a call with journalists that their shock would be something the company could absorb. "If tariffs were implemented in the range we have seen recently in other industries on medicines imported from Europe to the U.S., we would remain within the guidance range we indicated for 2025," he said. Most of the Anglo-Swedish drugmaker's sales come from drugs manufactured either domestically or in Europe, and the company was already shifting some additional manufacturing to U.S. sites, he added. "It's really something that we are going to manage," he added, noting that only minor volumes of U.S.-made drugs are exported to China, shielding the impact of tariffs in the country's second-biggest market after the United States. Also Read Shares in AstraZeneca fell as much as 5.4% before paring losses to trade down 3.2% at about 102 pounds by 0929 GMT, underperforming London's blue-chip FTSE 100, which rose 0.2%. Soriot spoke after the company reported total revenue of $13.6 billion for the first quarter, below company-compiled analysts' expectations of $13.8 billion. Sales of key oncology drugs missed forecasts, impacted partly by changes in U.S. Medicare price negotiations and the transition of rare disease patients from Soliris to newer drug Ultomiris, analysts said. The company also said it could face a new fine in China of up to $8 million over suspected unpaid taxes related to imports of breast cancer drug Enhertu. The update on investigations in China comes after it announced in February that it could face a fine of up to $4.5 million over imports of cancer drugs Imfinzi and Imjudo. Still, core earnings per share of $2.49 beat consensus estimates of $2.27. China accounted for about 12% of overall sales in 2024, while the United States made up 43%. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Recorder
29-04-2025
- Business
- Business Recorder
AstraZeneca says potential US tariffs manageable, faces another China fine
AstraZeneca expects only limited impact from potential U.S. tariffs on pharmaceutical imports, the drugmaker said on Tuesday, asserting it would maintain its 2025 forecasts if the levies end up being in line with other sectors. The tariffs and their erratic rollout by President Donald Trump have heightened fears of global supply chain disruptions, roiling industries that are heavily focused on the United States, the world's biggest consumer market. However, AstraZeneca Chief Executive Pascal Soriot said in a call with journalists that their shock would be something the company could absorb. 'If tariffs were implemented in the range we have seen recently in other industries on medicines imported from Europe to the U.S., we would remain within the guidance range we indicated for 2025,' he said. Most of the Anglo-Swedish drugmaker's sales come from drugs manufactured either domestically or in Europe, and the company was already shifting some additional manufacturing to U.S. sites, he added. 'It's really something that we are going to manage,' he added, noting that only minor volumes of U.S.-made drugs are exported to China, shielding the impact of tariffs in the country's second-biggest market after the United States. Shares in AstraZeneca fell as much as 5.4% before paring losses to trade down 3.2% at about 102 pounds by 0929 GMT, underperforming London's blue-chip FTSE 100, which rose 0.2%. AstraZeneca investing $2.5bn in China as drugmaker seeks to recover from scandals Soriot spoke after the company reported total revenue of $13.6 billion for the first quarter, below company-compiled analysts' expectations of $13.8 billion. Sales of key oncology drugs missed forecasts, impacted partly by changes in U.S. Medicare price negotiations and the transition of rare disease patients from Soliris to newer drug Ultomiris, analysts said. The company also said it could face a new fine in China of up to $8 million over suspected unpaid taxes related to imports of breast cancer drug Enhertu. The update on investigations in China comes after it announced in February that it could face a fine of up to $4.5 million over imports of cancer drugs Imfinzi and Imjudo. Still, core earnings per share of $2.49 beat consensus estimates of $2.27. China accounted for about 12% of overall sales in 2024, while the United States made up 43%.
Yahoo
29-04-2025
- Business
- Yahoo
Trending tickers: latest investor updates on AB Foods, AstraZeneca, Amazon, Deutsche Bank and Porsche
Associated British Foods, the owner of Primark, reported pretax profit and revenue for the first half below expectations due to challenges in its sugar business. The FTSE 100 (^FTSE) conglomerate said on Tuesday that pretax profit for the 24 weeks to March 1 fell to £692m, down 21% at current exchange rates compared with the same period last year. The figure came in well below analysts' forecasts of £828m. The group's sugar business posted an operating loss of £16m, dragged down by persistently low European sugar prices and underperformance at its UK-based bioethanol arm, Vivergo. Chief executive George Weston expressed disappointment in the division's performance. "These results reflect a robust performance in four of our five divisions," he said. 'I am frustrated with the results in our sugar business, but we are clear on what needs to be done by way of operational and regulatory solutions to improve financial performance. Read more: HSBC profits drop less than expected as bank announces share buyback of up to $3bn 'Primark delivered good growth in Europe and the US, with continued consumer caution in the UK. Primark's profit and margin delivery was strong and our low-cost operating model is working well. ' The company said it expects trading conditions for Primark in the UK to remain challenging in the second half of 2025, although recent trends suggest some stabilisation. Shares in AstraZeneca edged 4% lower in London trading as investors overlooked stronger-than-expected earnings and a robust performance in oncology, focusing instead on the pharmaceutical giant's revenue miss in the first quarter. The Anglo-Swedish drugmaker reported total revenue of $13.59bn for the three months to March 31, falling short of analysts' forecasts. However, core earnings per share — which exclude certain costs and one-off items — rose 21% to $2.49, comfortably beating expectations. Reported earnings per share increased 34% to $1.88. Despite the mixed results, the company reiterated its full-year guidance, maintaining expectations for high single-digit percentage growth in total revenue and a low double-digit percentage rise in core earnings per share at constant exchange rates. Growth was recorded across all major geographic markets, though analysts described performance in China as "soft", dampening the broader results. Oncology remained the key engine of growth for AstraZeneca, with the group highlighting five positive phase III trial readouts since its previous quarterly update. Chief executive Pascal Soriot said AstraZeneca had entered an "unprecedented catalyst-rich period" and pointed to further investment plans in US manufacturing and research. Amazon shares were trading lower in pre-market dealings following reports that the e-commerce group is demanding aggressive price cuts from suppliers as it seeks to shield its margins from mounting costs tied to the Trump-era trade war. According to the Financial Times, Amazon has asked for low double-digit discounts on products ranging from homeware to consumer electronics, according to three vendor consultants who represent multiple brands and suppliers. 'Amazon is the 800-pound gorilla in the room,' Scott Miller, a consultant and former Amazon vendor manager told the FT. 'Brands have grown dependent on the platform and have little choice.' Read more: FTSE 100 LIVE: Stocks cautious as former Bank of England governor Carney clinches Canada election victory The retail giant is not alone in its approach. Rivals including Walmart (WMT) and Costco (COST) have also leaned on suppliers in recent months to blunt the financial blow of higher import tariffs. Analysts at Goldman Sachs (GS) estimate that the levies could reduce Amazon's operating profit by between $5bn and $10bn this year — a hit of 6% to 12% — depending on how trade tensions unfold. In a statement, Amazon said: 'We're working with our broad, varied range of valued selling partners in our store to support them in adapting to the developing environment while maintaining low prices for customers.' Shares in Deutsche Bank climbed 4% after Germany's largest lender reported a stronger-than-expected first-quarter profit, buoyed by a robust performance in its investment banking division despite rising credit provisions linked to economic uncertainty and US trade policy. Net profit attributable to shareholders rose 39% year-on-year to €1.8bn (£1.5bn/$2.019bn), surpassing analyst forecasts of around €1.64bn, according to a Reuters poll. The figure marks a rebound from the €106m profit recorded in the fourth quarter of 2024. Revenue for the three months to March reached €8.5bn, a 10% increase from the same period last year and well ahead of the €7.2bn generated in the previous quarter. While the bank raised its credit provisions amid continued turbulence in Europe's largest economy — in part due to ongoing trade tensions with the US — investors focused on the strength of its investment banking franchise, which helped lift overall earnings. In a statement, Deutsche Bank CEO Christian Sewing said the results 'put us on track for delivery on all our 2025 targets' and marked 'our best quarterly profit for 14 years.' Porsche slashed its full-year outlook after reporting a sharp fall in first-quarter profits, citing a toxic mix of waning demand in China, rising supply chain costs and disruptive US tariffs that are shaking the global car industry. The company said its profit after tax plunged 44% to €518m and earnings per share slid 44.5% to €0.56. Furthermore, the revenue outlook for 2025 was cut from the €39bn-€40bn range to €37bn-€38bn and return on sales guidance was lowered from 10%-12% to 6.5%-8.5%. 'The introduction of US import tariffs leads to negative impacts for the months of April and May 2025 which are included in the adjusted forecast. However, the adjusted forecast does not take into account further effects of the introduction of US import tariffs,' the company said in a statement. 'Currently it is not yet possible to make a reliable assessment of the effects for the financial year,' it added. The tariffs, part of a wider escalation in global trade tensions, are expected to increase the price of imported vehicles by thousands of dollars, weakening demand in a market already grappling with a slowing shift to electric vehicles. Porsche is also contending with softening demand in its largest market, China, particularly for its all-electric models.
Reuters
23-04-2025
- Business
- Reuters
AstraZeneca CEO says Europe must invest more to protect its 'health sovereignty'
LONDON, April 23 (Reuters) - AstraZeneca Chief Executive Officer Pascal Soriot said on Wednesday that just like Europe has stepped up its defence spending it now must do the same and invest more to protect its health sovereignty amid a shifting world order. Soriot was responding to a Reuters request for comment on a letter by the CEOs of European drugmakers Novartis (NOVN.S), opens new tab and Sanofi ( opens new tab published on Wednesday in the Financial Times in which they said European price controls on medicines hurt innovation and made the region less attractive, "penalising" innovation. "Europe spends a substantially lower share of GDP on innovative medicines than the U.S. and, as a result, is falling behind in attracting R&D and manufacturing investments, putting its ability to protect the health of its own people at risk," Soriot said in a statement. Despite its heavy spending on medicines and healthcare overall, the United States has the worst health outcomes among countries in the Organisation for Economic Cooperation and Development. However, European pharma bosses' comments show their concern that U.S. President Donald Trump's efforts to bring more investment to his country are reducing incentives to invest in Europe. In January, AstraZeneca, scrapped plans to invest 450 million pounds ($598.46 million) in its vaccine manufacturing plant in England, citing a cut in British government support and has not announced new investments since. Last November, the Anglo-Swedish drugmaker unveiled a $3.5 billion investment to expand its manufacturing footprint in the U.S. and do more research and development there. ($1 = 0.7519 pounds)
