AstraZeneca shares outlook 2012

AstraZeneca shares outlook 2012 ; The UK’s second-biggest medicine maker is forecast to report flat revenues for the year to December 31 of 33.5 billion US dollars (£21.3 billion) and a 15% rise in pre-tax profits to 12.65 billion US dollars (£8.1 billion).

The company previously warned its profits would be at the low end of market expectations after an ovarian cancer drug called olaparib was held back for further development when tests revealed it was unlikely to prove effective.

Elsewhere, the results of tests on drugs for patients with major depressive disorders were disappointing although research is still ongoing.

AstraZeneca 1-Year Share Price Chart

The pharmaceuticals industry is facing a challenging period as it looks for new products and faces the loss of exclusivity on existing drugs.

AstraZeneca took impairment charges of around 381.5 million US dollars (£246 million) in the final quarter of 2011 as a number of its potential new drugs fell through.

Shares are 6% lower than their 2011 peak in May, amid fears that Astra has relatively few new drugs to replace its existing stable such as Nexium for heartburn and schizophrenia drug Seroquel, but have climbed back 20% from their year-low in August.

Astra has in recent years been hampered by problems with its newest medicines after it discontinued its motavizumab drug, used to prevent serious lung disease, leading to a 445 million US dollar (£287.2 million) accounting charge.

It also suffered delays in winning approval from US regulators for its heart medicine Brilinta. The US Food and Drug Administration requested further analysis into the blood-thinning pill before clearing the drug for sale.

Astra, which employs around 11,000 staff in the UK, has operations across the UK at sites including Macclesfield and Wilmslow in Cheshire, Luton, Loughborough, Edinburgh and Brixham in Devon. For the latest updates on the stock market, visit Stock Market Today

AstraZeneca new products 2012, pharmaceuticals industry 2012, AstraZeneca profits forecast 2012, AstraZeneca prediction 2012, AstraZeneca market expectations 2012-2013, AstraZeneca sales problems, US regulators for its heart medicine Brilinta. For the latest updates PRESS CTR + D or visit Stock Market news Today

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