Another disappointing quarter for AstraZeneca, shares drop 2%

UK-based pharmaceutical group AstraZeneca today announced its Q1 2018 results, before trading started in Europe. Investors did not approve the performance and AstraZeneca’s shares soon declined 2.3% as trading started. What raises most concern is the 4% sales drop (-9% at CER) and  the steady sales volume decline for blockbuster Crestor (statin), which has been only partially offset by positive performances in China and by new products. Positively, expenditure decreased from $286m (Q1 2017) to $213m. Importantly, AstraZeneca four years ago rejected a takeover attempt by Pfizer and CEO Pascal Soriot promised that his group would grow only if it had remained independent. By contrast, 4 years later, the British group’s capitalization is 4% below the 2014 level.

(Source: AstraZeneca)