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AstraZeneca sees 2017 revenues in line with 2013

  • AstraZeneca (AZN) believes it will return to growth "earlier than analyst consensus," and it expects 2017 revenues to be "broadly in line" with those of 2013. The company's earnings are being hit by patent expirations such as for cholesterol treatment Crestor.
  • AstraZeneca appears to base its forecast on its decision to buy Bristol-Myers Squibb's interests in their diabetes venture and on future drug launches.
  • AstraZeneca has treatments in 11 Phase III programs, almost double the number a year ago, and in 27 Phase II studies.
  • The company's comments come ahead of a presentation that CEO Pascal Soriot will give at the JP Morgan Healthcare Conference in San Francisco at 7.30 pm ET.
  • Shares +2% in London. (PR)
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