AstraZeneca reports boost in cancer drug sales

LONDON — Anglo-Swedish drugmaker AstraZeneca is reporting its first quarterly sales in years on the back of new cancer treatments.

The company said Friday that product sales rose 4 percent in the fourth quarter to $5.49 billion, buoyed by new drugs such as bladder cancer treatment Imfinzi, and lymphoma medication Calquence.

It was the first increase since the third quarter of 2014.

AstraZeneca says it expects product sales to increase "in the low single digits" this year.

Despite encouraging news on the sales front, net income fell 29 percent to $1.3 billion. Core operating profit, which excludes restructuring and acquisition-related costs to give a better picture of underlying performance, fell 12 percent to $1.79 billion.

CEO Pascal Soriot says the sales increase shows AstraZeneca is "steadily turning a corner."

Must Read

George Michael mourned by boyfriend, ex-boyfriend...

Dec 27, 2016

George Michael's former partner and his current boyfriend have both spoken of their sadness at his...

Prince William speaks of 'anger' when his mother...

Jan 12, 2017

Britain's Prince William has comforted a young girl who lost a parent and spoken out about his...

Trainspotting's Ewan McGregor snubs Piers Morgan...

Jan 24, 2017

Actor Ewan McGregor was a last minute no-show on the Good Morning Britain show because of a dispute...

Queen Elizabeth II marks record 65 years on throne

Feb 6, 2017

Queen Elizabeth II has become the first British monarch to reach the milestone of 65 years on the...

Vibrant Tate show traces David Hockney's artistic...

Feb 6, 2017

It's not often an artist finds himself occupying 12 rooms of London's leading museum of British art...

Sign up now!