AstraZeneca
4Q Revenues: $5.8 billion (+3%)
4Q Earnings: $1.3 billion (-31%)
FY Revenues: $22.5 billion (-2%)
FY Earnings: $2.9 billion (-16%)
Comments: For the year, Product Sales were down 5% to $20.2 billion. Crestor sales declined 30% to $2.4 billion and Seroquel XR sales declined 55% to $332 million due to loss of exclusivity in the U.S. Brilinta and Farxiga sales were $1.1 billion for the year, up 29%. Symbicort sales were down 6% to $2.8 billion. Pulmicort sales were up 11% to $1.2 billion. Nexium sales were $2.0 billion, down 4%. Emerging Markets sales were up 6% with growth across all three main therapy areas and launches of new medicines. For the year, U.S. sales were down 16% to $6.2 billion impacted by Crestor and Seroquel XR losses of exclusivity, and adverse sales performance of Symbicort, down 12% to $1.1 billion. U.S. sales were up 9% to $1.8 billion in the quarter as a result of true-up adjustments in the U.S. relating to the first nine months of 2017. Product Sales in Europe were down 6% to $4.8 billion, partly driven by pricing pressures on Symbicort and the initial impact from generic competition to Crestor.