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Financial Reports: AstraZeneca

Seroquel IR loss pummels revenues

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AstraZeneca 1Q13 1Q Revenues: $6.4 billion (-13%) 1Q Earnings: $1.0 billion (-37%) Comments: U.S. revenues were down 16% ($2.4 billion), as Seroquel IR revenues dropped 99%. Excluding Seroquel IR, U.S. revenues were up 3%, due mainly to the inclusion of Amylin diabetes products and growth for Symbicort, Brilinta and Onglyza. Revenue from Europe were down 16% ($1.7 billion), due largely to loss of exclusivity for Seroquel IR and erosion from the XR variety. Overall Seroquel sales fell 60% from...

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