China's importance to AstraZeneca hits 2020 outlook

14 February 2020

Shares in Anglo-Swedish drugmaker AstraZeneca (LSE: AZN) were nearly 1% lower by Friday lunchtime as the company presented its latest financial results and outlook for the year ahead.

The figures for the final quarter of 2019, and for the year as a whole, looked fairly healthy, offering further validation to chief executive Pascal Soriot’s strategy of investing in R&D, as the company’s pipeline is now bearing fruit.

Full-year revenue rose 10% to $24.38 billion, including fourth-quarter revenue of $6.66 billion, a jump of 4%. These figures were just short of analysts’ expectations, as was the annual core earnings per share (EPS) figure, of $3.50, where $3.57 had been predicted by analysts.

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