New drugs shine as AstraZeneca fights against generic losses

LONDON (Reuters) – The new drugs of AstraZeneca ( AZN.L ) rose sharply in the second quarter, providing insight into the best times to come as society struggles with the falling sales of Crestor competition.

Anticancer drugs have been a strong point, including good demand for Imfinzi. Managing Director Pascal Soriot said the company has remained on track for a return to growth in product sales in 2018.

China has also once again been a bright spot, AstraZeneca continues to outperform rivals in The world's second-largest drug market and UK pharmaceutical maker stocks rose 2% early in the session on Thursday as investors applauded mounting evidence of recovery.

AstraZeneca said total revenues rose 2 percent in dollar terms in the second quarter to $ 5.16 billion, although earnings per share, which excludes some items, declined 21 percent to 69 cents.

Analysts on average expected a profit of 71 cents on a $ 5.16 billion business figure, according to Thomson Reuters data. For the full year, the company has maintained its financial focus unchanged.

"The performance of the first half showed that we remain firmly on track to bring our company back to product sales growth

in 2018," said Soriot.

Drug sales rose 2% over the three months, helped by a weaker dollar, but down 1% at constant exchange rates, which is the index used by AstraZeneca to measure his return to growth.

For the full year of 2018, AstraZeneca expects a small percentage increase in sales of products at constant exchange rates and a basic earnings per share of 3.30 to 3.50 dollars.

The drug maker has suffered from the industry's biggest patent cliff since 2012, wiping out more than half of its sales, but analysts now believe that it should know the "big deal". one of the highest growth rates in the industry in the coming years.

The new cancer pills Tagrisso and Lynparza, as well as infused treatment Imfinzi, who stole a march on immunotherapies established by Merck ( MRK.N ), Bristol-Myers Squibb ( ] BMY.N ​​) and Roche ( ROG.S ) which are focused on advanced disease.

After the American green light for Imfinzi in February, the European Medicines Agency also assesses it in stage III lung cancer inoperable – where the disease has not yet spread in the body – and could recommend it as early as this week here.