AstraZeneca 1Q

AstraZeneca 1Q

1Q Revenues: $7.7 billion (flat)

1Q Earnings: $1.6 billion(-15%)

Comments: U.S. sales were $3.6 billion (+7%), aided by Toprol-XL sales, up 59% to $288 million, due to the withdrawal of two generic competitors. Sales in Europe were down 10% to $2.2 billion. Seroquel sales were $1.1 billion (+11%). Crestor sales were up 35% to $969 million. Synagis sales were up 5% to $545 million. Symbicort sales were $515 million (+24%). Pulmicort sales were down 26% to $292 million and Casodex sales were down 27% to $236 million due to generic competition.