3Q Revenues: $6.7 billion (-19%)
3Q Earnings: $1.5 billion (-18%)
YTD Revenues: $20.7 billion (-17%)
YTD Earnings: $4.8 billion (-21%)
Comments: U.S. revenues were down 19% in the quarter, due to the loss of exclusivity for Seroquel IR. Revenue in the Rest of World (ROW) was down 12% and revenue in western Europe was down 20%, due to patent expirations for Seroquel IR, Atacand, Nexium and Merrem, accounting for 70% of the revenue decline. Crestor sales were down 2% to $1.5 billion. Symbicort sales were up 11% to $785 million. Faslodex sales were $167 million (+28%), Iressa sales were $154 million (+11%) and Onglyza sales were $84.0 million (+42%). Revenue from the company’s share of the Amylin diabetes portfolio contributed $44 million. The negative impact of U.S. healthcare reform on revenue and costs was approximately $150 million in the quarter.