July 25, 2019 / 6:12 AM / 2 months ago

AstraZeneca quarterly product sales beat on cancer drug strength

July 25 (Reuters) - AstraZeneca Plc’s second-quarter product sales beat analysts’ expectations on Thursday, as the drugmaker benefited from higher demand for its newer treatments, especially cancer medicines such as Tagrisso.

Product sales in the three months ended June 30 rose 19% to $5.72 billion at constant currency, marking the fourth consecutive quarter of growth.

Core earnings were 73 cents per share.

Analysts on average were expecting earnings of 61 cents per share and product sales of $5.45 billion, according to a company provided consensus.

AstraZeneca’s full-year product sales are now expected to increase by a low double-digit percentage, compared to a previous forecast of a growth of high single-digit percentage. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Shounak Dasgupta)

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