AstraZeneca announces increase in second quarter sales

AstraZeneca saw its sales increase by a total of nine per cent at constant exchange rates (CER) during the second quarter of its financial year to stand at $7,958 million (4.82 billion pounds), it has announced.

Meanwhile, core operating profit grew by 37 per cent at CER to reach a total of $3,606 million.

This was attributed to a number of factors, including operational efficiencies and sales growth.

Strong cash flows were able to reduce net debt by a total of $3 billion since December 31st 2008, while the company’s board of directors has recommended a first interim dividend of 59 cents, which represents an increase of seven per cent.

“Good operating execution as well as the Toprol-XL benefit has led to a strong first half performance, which is reflected in our increased Core EPS target for the full year,” said David Brennan, chief executive of the company.

Earlier this month, AstraZeneca announced plans to carry out further trials into its ADHD therapy AZD3480.