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AstraZeneca PLC (AZN) CEO Confronts Cynic Investors, Touts Pipeline


1/14/2014 7:48:47 AM

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AstraZeneca expects new drugs and a recent diabetes deal to offset a wave of patent expiries and return it to growth faster than analysts predict, with 2017 revenue likely to be broadly in line with the 2013 level. The company's forecast implies a potential $3 billion upgrade to the consensus estimate from analysts and marks an attempt to call a bottom to a sales decline driven by the loss of exclusivity on several top-selling medicines. Britain's second-biggest drugmaker is already suffering from generic competition to its antipsychotic Seroquel, while its Nexium treatment for excess stomach acid loses U.S. patent cover this year.

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