AstraZeneca (AZ) has announced that in its first half of 2019 product sales grew 12% to $11,183m, including an acceleration in second-quarter product sales to $5,718m.
The company also reported a sales growth of 52% in the half, bringing the total to $4,059m. The sales numbers were boosted by oncology drugs such as Tagrisso (osimertinib), Imfinzi (durvalumab) and Lynparza (olaparib) primarily, with sales of Tagrisso hitting $1,414m, representing growth of 86% in the half.
Imfinzi sales amounted to $633m and Lynparza sales of $520m, representing huge growths of of 244% and 93% respectively.
Pascal Soriot, chief executive officer, commented that the “momentum generated last year continued into the first half, consolidating AstraZeneca’s return to growth based on the strength of our new medicines.”
He continued, “Five of these new medicines are anticipated to be blockbusters this year, supporting sales across both Oncology and BioPharmaceuticals. Emerging Markets, the US and Japan all grew strongly, and we delivered an encouraging turnaround in Europe in the second quarter.
“Selective investment in sustainable growth also continued, particularly in Emerging Markets and in our launch programmes. Additional regulatory approvals for Lynparza in ovarian cancer in the EU and Japan, together with approvals for Breztri and Bevespi in COPD in Japan, illustrated further progress from our pipeline. Accompanying earnings growth this year, we are pleased to upgrade our Product Sales guidance and we are committed to working on our operating leverage and driving cash generation over the long term.”
The results mark the fourth successive quarter in which AZ has seen rising revenues, with strong growth also being highlighted in emerging markets, where revenues rose 27% with China sales alone growing 44% to about $1.2bn.