AstraZeneca lifts EPS guidance as H1 revenues jump

AstraZeneca posted a jump in first-half revenue on Thursday as it updated its guidance to include recently-acquired Alexion Pharmaceuticals.

Revenues grew 23% during the half to $15.5bn, with second -quarter revenue up 31% at $8.2bn. Excluding the contribution from the Covid-19 vaccine, revenue was 14% higher in the half at $14.4bn, and 17% firmer in the quarter at $7.3bn.

Sales of the Covid-19 vaccine more than tripled to $894m in the second quarter.

Reported pre-tax profit during the half rose to $2.4bn from $1.9bn in the same period a year prior.

Following its acquisition of Alexion Pharmaceuticals, AstraZeneca updated its full-year 2021 guidance to reflect the business’s contribution in the year. It now expects total revenue to increase by a low-twenties percentage, accompanied by a faster growth in core earnings per share to between $5.05 and $5.40.

Previously, the company was forecasting total revenue up by a low teens percentage and a core EPS of $4.75 to $5.00.

Chief executive officer Pascal Soriot said: "AstraZeneca has delivered another period of strong growth thanks to robust performances across all regions and disease areas, particularly Oncology, New CVRM and Fasenra in Respiratory. As a result, we have delivered further earnings progression, supported ongoing launches, and continued our investment in R&D."