AstraZeneca raises full-year financial targets
AstraZeneca's second-quarter performance showed strong growth in emerging markets. The company also increased its full-year financial targets.
Pharmaceutical company AstraZeneca announced its second quarter and half-year results on July 29, 2010. Chief Executive Officer David Brennan stated the results reflected continued strong growth in emerging markets and good performance for key brands including Crestor, Seroquel, and Symbicort.
AstraZeneca raised its full-year financial targets, despite anticipating more challenging revenue and core earnings per share comparisons in the second half of the year. The company did not provide specific financial figures in this release, referring instead to separate reports.
Within the broader pharmaceutical industry context, AstraZeneca was navigating the period following patent expirations for several key drugs, focusing on leveraging growth in emerging markets and advancing its development pipeline.
The company's strategy appeared to center on balancing revenue from established products with investment in future growth areas, a common challenge for large pharmaceutical firms during this era.