Astra Posts Solid 4Q, Buoyed by New Cancer Drugs Offsetting Generic Competition
AstraZeneca reported fourth-quarter results slightly ahead of both our and consensus expectations, but we don’t plan any major changes to our fair value estimate based on the minor outperformance and we continue to view the stock as slightly overvalued. However, the strong growth of the recently launched drugs offsetting the decelerating generic competition along with improvements in the pipeline reinforces the firm’s wide moat.In the quarter, strong oncology and cardio-metabolic sales more tha...
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