AstraZeneca reports strong Q2: revenue up by 31%

AstraZeneca (AZN) released it’s H1 earnings report on Thursday, before the market opening. The pharmaceutical company reported strong revenue growth of 23% in H1 2021 to $15,540m while, in the second quarter, revenue increased by 31% to $8,220m.

Analyst’s expectations for Q2

Earnings: $0.889 per share anticipated
Revenue: $7.48 billion anticipated

Earnings per share of $5.42 is expected by the analysts for the company versus the $4.02 per share in the previous year, and revenue of $32.70 billion versus $26.62 billion for the current fiscal year.

AstraZeneca’s newer medicines like Lynparza, Tagrisso and Imfinzi (mainly cancer drugs) sale is expected to drive the top line for the second quarter. Other major drugs like Fasenra and Faxriga have likely contributed to the growth factor in the Q2 reports. However, few drugs from the company, like Brilinta and Pulmicort sales, have seemed to be affected.

The major legacy drugs’ sales seemed to be declining because of the generic competition. And this is likely going to repeat in the coming quarter.

In the first quarter, the British-Swedish company’s Covid-19 vaccine brought revenue of $275 million.

AZN, on 21st July, announced that it had completed its $39 billion acquisition over Alexion. The new group is now known as Alexion, AstraZeneca Rare Disease, headquartered in Boston.

The biotechnology company on 27th July also announced that it is collaborating with Regeneron “to research, develop and commercialize new small molecule medicines for obesity”. Both the companies are partnering to treat obesity and related co-morbidities.

The main focus of the investors is likely the vaccine-related second-quarter earnings update. They might also look out for updates on vaccine authorization timelines in the United States.

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