| AstraZeneca announces 2008 second quarter and first half results | Posted on 01/08/2008 in Pharmaceutical Company Financials AstraZeneca claims its second quarter and first half results for 2008 show solid performance with sustained progress on the key priorities.
Sales in the first half of the year increased by three per cent at constant exchange rates (CER).
Core earnings per share (EPS) increased by three per cent at CER to $2.53 (1.28 pounds).
During the second quarter, sales in emerging markets rose by 20 per cent at CER, exceeding £1 billion for the first time in a quarter.
According to the company, its core EPS target for the overall year has grown by $0.15, reflecting strong financial and operational performance, as well as other currency benefits in 2008 so far.
Commenting on the results, David Brennan, chief executive officer, said: "AstraZeneca has made good progress on three fronts: performance, pipeline and patents."
He added: "The business is on track to achieve our increased financial target for the year."
Mr Brennan stated the company had mitigated its main immediate financial risks by securing both the Nexium patent settlement and the summary judgement motion for Seroquel.
Earlier this month, AstraZeneca agreed a strategic research collaboration with Columbia University Medical Centre in order to develop novel therapeutics for obesity and diabetes.
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