AstraZeneca Provides Cautious 2017 Guidance
AstraZeneca posted stronger-than-expected earnings in the fourth quarter but was hesitant about 2017.
AstraZeneca (AZN) - Get Report posted stronger-than-expected earnings in the fourth quarter but provided cautious 2017 guidance as its blockbuster Crestor drug sales continued to slow in the face of generic competition.
Core earnings for the period were $1.21 per share, the company said, higher than the estimate of $1.14 per share. Revenue for the quarter came in at $5.585 million, largely in line with analysts' expectations.
CEO Pascal Soriot said, "2017 has the potential to be a turning point for our company as we near the end of our patent-expiry period and bring new medicines to patients across the globe."
