The UK pharmaceutical giant said Crestor sales had fallen by 45%, as it reported first-quarter results this morning. Astra’s shares were trading 1.2% lower on the backdrop of a FTSE 100 fall of 0.5%.
The firm’s CEO Pascal Soriot repeated his claim that 2017 would be a pivotal year for the firm, which is hoping for success in a number of new drug trials.
“In addition to the availability of positive data for Lynparza in ovarian and breast cancer, we also received full approvals in the US and Europe for Tagrisso in lung cancer and launched this important medicine in record time in China,” he said.
“While we were disappointed to receive the Complete Response Letter for ZS-9, we remain confident in this treatment for hyperkalaemia.
“The total revenue performance reflected the transitional impact of recent patent expiries, which is expected to recede in the second half of the year.
“Importantly, we anticipate the significant progress of the pipeline to continue, including our immuno-oncology and targeted treatments. We will also maintain our commitment to drive efficiency across the company to support our efforts to bring new medicines to patients.”
