AstraZeneca 2Q08

2Q Revenues: $8.0 billion (+9%, +2% at Constant Exchange Rate)

2Q Earnings: $1.6 billion (+13%, +6% CER)

YTD Revenues: $15.6 billion (+10%, +3% CER)

YTD Earnings: $3.1 billion (+4%, -3% CER)

Comments: Sales were buoyed by 35%/27% growth in Crestor, which reached $916 million in 2Q08. Toprol sales plummeted 55%/58% in the quarter, while Nexium sales plateaued at $1.3 billion. Symbicort sales rose 25%/12% to $518 million and Pulmicort was up 20%/14% to $383 million. AZ took a charge of $131 million for restructuring in the quarter; the current restructuring program has now amounted to $1.2 billion in charges.

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