— AstraZeneca Plc (NYSE: AZN) reported its third-quarter 2019 earnings of $0.23 per share and core earnings of $0.99 per share. This is compared to $0.45 per share expected.
— Total revenue increased by 20% to $6.41 billion versus $6.18 billion expected. This is driven by a 16% jump in product sales.
— Oncology sales jumped by 46% and respiratory sales grew by 15%. Biopharmaceuticals sales increased by 12% and new CVRM sales rose by 8% while sales in other medicines fell by 9%.
— Looking ahead into the full year 2019, the company reiterates its core earnings guidance in the range of $3.50 to $3.70 per share.
— The core operating profit for fiscal 2019 is predicted to increase ahead of product sales.
— For the full year, capital expenditure is anticipated to be broadly stable and restructuring expenses are targeted to reduce versus the prior-year.
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