AstraZeneca touts potential of bispecifics as oncology product sales grow 16% in Q3 Headline results for the third quarter: Revenue: $11.5 billion, up 5%
Profit: $1.4 billion, down 16%
Note: All changes are versus the prior-year period unless otherwise stated
What the company said:“Our company continued its strong growth trajectory in the third quarter with total revenue from our non‑COVID-19 medicines up 13% compared to last year,” remarked CEO Pascal Soriot. “Given the momentum in the year to date we have increased our full-year guidance,” the executive added. Oncology product sales: $4.4 billion, up 16%
Tagrisso: $1.5 billion, up 5%
Calquence: $654 million, up 16%
Lokelma: $102 million, up 30%
Rare disease product sales: $2 billion, up 13%
Soliris: $781 million, down 13%
Respiratory and immunology product sales: $1.5 billion, up 2%
Symbicort: $555 million, down 12%
Fasenra: $389 million, up 10%
Emerging market sales: $3 billion, up 4%, with revenue in China down 6% at $1.5 billion
Looking ahead:AstraZeneca now expects revenue for this year to grow by a mid-single-digit percentage range at constant currencies, lifted from a previous range of a low- to mid-single-digit percentage increase. Meanwhile, core earnings per share are projected to climb by a low-double-digit to low-teens percentage, boosted from an earlier forecast of growth in the high single-digit to low double-digit percentage. Pipeline updates:Along with volrustomig, AstraZeneca has the oncology bispecifics rilvegostomig and sabestomig in its pipeline, and disclosed that it recently moved AZD5863 into Phase I development for solid tumours. The Claudin 18.2/CD3 bispecific antibody, also known as HBM7022, was in-licensed from Harbour BioMed last year. AstraZeneca also axed tarperprumig from Phase II development for sickle cell disease, with the anti-properdin bispecific cut “due to strategic portfolio prioritisation.” In addition, the company discontinued work on subcutaneous administration of the anti-complement C5 monoclonal antibody Ultomiris for adults with atypical haaemolytic uraemic syndrome or PNH as it has been unable to “reliably secure the availability of the on-body delivery system.