UBS analysts shook up their ratings of European drugmakers, including making a double-downgrade of AstraZeneca and a double-upgrade of U.K. rival GSK.UBS took its ratings on AstraZeneca AZN, -2.82% AZN, +0.35% to sell from buy, while it upgraded GSK GSK, -0.44% GSK, +1.16% to buy from sell. It also upped Novartis NOVN, +0.25% NVS, -0.14% and Sanofi SAN, +0.03% SNY, -0.51% to buy from neutral, and Novo Nordisk NOVO.B, -0.19% NVS, -0.14% to neutral from sell.Analysts led by Matthew Weston say sector valuation ...

JP Morgan has maintained its bullish stance on AstraZeneca PLC (LSE:AZN) in the wake of the San Francisco healthcare conference it sponsors. Repeating its overweight stance £130 a share price target, the US bank provided its assessment of a Q&A session fronted by AZ's CFO Aradhana Sarin, which presented a robust outlook for the company. Sarin focused on the potential of the drug giant's pipeline, which includes the intention to launch 15 new therapies by the end of the decade. This prospective contribution ...

In the latest market close, Astrazeneca (AZN) reached $69.42, with a +0.35% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.The pharmaceutical's stock has climbed by 4.27% in the past month, falling short of the Medical sector's gain of 6.57% and outpacing the S&P 500's gain of 3.52%.Analysts and investors alike will be keeping a close eye on the performance of Astrazene ...

The latest trading session saw Astrazeneca (AZN) ending at $69.18, denoting a -0.56% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.07%.Heading into today, shares of the pharmaceutical had gained 5.57% over the past month, lagging the Medical sector's gain of 7.37% and outpacing the S&P 500's gain of 3.98% in that time.The investment community will be closely monitoring the performance of Astrazeneca in its forthcoming earnings report. In that report, ...

Key PointsAstraZeneca gained 8.95% in the past month, fueled by optimism about its 2024 earnings outlook.Rising sales of cancer and diabetes drugs are key contributors to AstraZeneca's positive performance.The company announced an acquisition in the area of cell therapies and also has a licensing deal with a company developing weight-loss treatments. 5 stocks we like better than AstraZenecaU.K.-based AstraZeneca PLC NASDAQ: AZN is up 8.95% in the past month as investors grow optimistic about the company's i ...

Astrazeneca (AZN) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this pharmaceutical have returned +9%, compared to the Zacks S&P 500 composite's +3.5% change. During this period, the Zacks Large Cap Pharmaceuticals industry, which Astrazeneca falls in, has gained 8%. The key question now is: What could be the stock's future directio ...

LONDON & BUDAPEST, Hungary--(BUSINESS WIRE)--Turbine, a leading biological simulation company building a platform for interpreting human biology in silico, today announced it has entered into a collaboration with AstraZeneca (LSE/STO/Nasdaq: AZN), a global biopharmaceutical company. Turbine will use its proprietary Simulated Cell™ platform to identify and understand mechanisms of resistance to therapy in hematological cancers. The collaboration will focus on understanding resistance mechanisms resulting fro ...

9M and Q3 2023 Results Conference call and webcast for investors and analysts Forward-looking statements Inorder,amongotherthings,to utilisethe'safeharbour' provisionsoftheUSPrivate SecuritiesLitigationReform Act of 1995, AstraZeneca (hereafter ...

AstraZeneca PLC (NASDAQ:AZN) Q3 2023 Earnings Conference Call November 9, 2023 9:00 AM ET Corporate Participants Andy Barnett - Head, Investor Relations Pascal Soriot - Chief Executive Officer Aradhana Sarin - Chief Financial Officer David Fredrickson - EVP, Oncology Business Susan Galbraith - EVP, Oncology R&D Ruud Dobber - EVP, BioPharmaceuticals Business Sharon Barr - EVP, BioPharmaceuticals R&D Marc Dunoyer - Chief Executive Officer, Alexion Conference Call Participants Steve Scala - Cowen Gonzalo Artia ...

Financial Performance - Total Revenue for Q3 2023 reached $11,492 million, a 5% increase year-over-year, with a 12% increase excluding COVID-19 medicines[5] - Core EPS for Q3 2023 was $1.73, reflecting a 4% increase compared to the previous year[5] - Total Revenue for the first nine months of 2023 was $33,787 million, up 2%, with a 12% increase excluding COVID-19 medicines[5] - Total revenue and product sales performance details are available in the financial performance section[47] - Total revenue for the company reached $33,787 million, reflecting a 2% increase compared to the previous year[49] - Total revenue for 9M 2023 reached $33,787 million, a 2% increase compared to the previous year, with a 5% increase at constant exchange rates (CER) [53] - Total revenue for the nine months ended September 30, 2023, was $33,787 million, a 1.9% increase from $33,144 million in 2022[155] - Total product sales reached $32,466 million, up from $32,200 million, while alliance revenue increased significantly to $1,004 million from $504 million[155] - Total product sales amounted to $11,018 million, representing a 4% increase overall[192] Revenue Growth by Segment - Oncology medicines saw a 20% increase in revenue, while Cardiovascular, Renal & Metabolism (CVRM) and Rare Disease segments grew by 19% and 12%, respectively[5] - Oncology product sales amounted to $12,692 million, representing 38% of total sales with a 17% year-over-year growth[48] - The sales of Farxiga in the CVRM segment increased by 36% to $4,358 million, contributing 13% to total sales[48] - Rare Disease segment generated $5,793 million in sales, showing an 11% increase year-over-year[48] - Alliance revenue surged by 99% to $1,004 million, with significant contributions from Enhertu and Tezspire[50] - The company anticipates continued growth in oncology and rare disease markets, driven by new product launches and market expansion strategies[48] - Oncology revenue totaled $13,458 million in 9M 2023, a 17% increase (20% at CER), contributing 40% to overall revenue [56] - Tagrisso revenue was $4,380 million in 9M 2023, a 7% increase, with a 10% increase at CER, driven by demand in adjuvant and first-line settings [57] - Imfinzi and Imjudo generated $3,102 million in 9M 2023, a 53% increase, with a 56% increase at CER, supported by growth in established indications [58] - Enhertu sales reached $1,844 million in 9M 2023, significantly up from $750 million in the previous year, with AstraZeneca's share being $919 million [62] - Calquence revenue was $1,839 million, a 25% increase, with a 26% increase at CER, reflecting increased global penetration [65] - Farxiga revenue reached $919 million, more than doubling, driven by heart failure and chronic kidney disease markets [64] Expenses and Profitability - Reported SG&A expenses increased by 12% to $4,800 million, impacted by legal provisions including a $425 million charge related to a legal settlement[27] - Operating margin increased to 17%, up 6 percentage points (pp) year-over-year, with a 31% actual margin for the previous period[30] - Net finance expense decreased by 9% to $291 million, with a 12% reduction in the previous period[32] - Earnings per share (EPS) reported at $0.89, a decline of 16% year-over-year, while the previous period's EPS was $1.73, reflecting a 4% increase[33] - Gross profit for 9M 2023 was $27,827 million, an 18% increase compared to $23,653 million in 9M 2022[100] - Operating profit for 9M 2023 was $6,959 million, more than double the $2,663 million reported in 9M 2022[100] - Earnings per share (EPS) increased to $3.22 in 9M 2023, compared to $1.54 in 9M 2022[100] - Product Sales Gross Margin improved to 81.6% in 9M 2023, up from 70.5% in 9M 2022[100] Research and Development - The company initiated several Phase III trials for new high-potential molecules, including a bispecific antibody for cancer treatment[6] - Research and development (R&D) expenses were $7,862 million, representing 23.3% of total revenue[100] - R&D expenses totaled $2,584 million, with a core R&D expense of $2,485 million, indicating a 5% increase year-over-year[103] Collaborations and Acquisitions - AstraZeneca announced a multi-target collaboration with Verge Genomics, with a total consideration of up to $42 million for drug target identification[38] - The company completed a purchase agreement for preclinical rare disease gene therapy programs from Pfizer, totaling up to $1 billion[38] - AstraZeneca's collaboration with Cellectis includes an initial payment of $105 million and potential milestone payments ranging from $70 million to $220 million per candidate product[40] - An exclusive license agreement with Eccogene for ECC5004 includes an upfront payment of $185 million and up to $1.825 billion in future milestones[41] - The company expects to invest $105 million in Cellectis, including an $80 million equity investment[187] - AstraZeneca completed the acquisition of Neogene Therapeutics for a total consideration of $267 million, recognizing $100 million in intangible assets and $158 million in goodwill[168] - The acquisition of CinCor was completed for $1,268 million, including $780 million in intangible assets and contingent consideration of up to $496 million based on regulatory milestones[168] Legal and Regulatory Matters - The company is involved in ongoing litigation regarding the Inflation Reduction Act, filed in August 2023[186] - AstraZeneca resolved all pending claims in the multidistrict litigation for $425 million in October 2023[183] - The company is facing various lawsuits related to its products, including claims of physical injuries from Farxiga and Xigduo XR[184] Sustainability and Corporate Responsibility - The company entered long-term renewable energy partnerships in the UK and Sweden to support sustainability efforts[42] - AstraZeneca has committed to purchasing 200 gigawatt-hours of renewable electricity per year for 10 years in Sweden, covering approximately 80% of total electricity needs at its Gothenburg and Södertälje sites[122] - The Company was ranked first for climate action in a STAT Report, highlighting its leadership in measuring and reporting climate impacts[122] - AstraZeneca received the EcoVadis Gold Medal for 2023, improving from a Silver rating in 2022, with advanced ratings in Environment and Human Rights categories[122] Future Outlook - The company expects FY 2023 Total Revenue excluding COVID-19 medicines to increase by a low-teens percentage at constant exchange rates (CER)[5] - Core EPS guidance for FY 2023 has been raised to a low double-digit to low-teens percentage increase at CER[8] - The company anticipates announcing full year and fourth quarter 2023 results on February 8, 2024[195] - The Group anticipates new revenue streams from recently launched medicines and those in development, despite potential government price interventions affecting revenues[165] - Overall, the company provided a positive outlook for future growth, emphasizing ongoing investments in new product development and market expansion strategies[191]