Astra Reports Slightly Disappointing 3Q as Generic Competition Grows, but Pipeline Looks Encouraging
AstraZeneca reported third-quarter results that fell slightly below our expectations, but we don’t expect any major changes to our fair value estimate, and we continue to view the stock as slightly undervalued. Despite facing a major wall of patent losses, Astra holds a strong pipeline that should return the company to growth in 2018. The solid pipeline also strengthens our conviction in the firm’s wide moat rating.In the quarter, total product sales fell 14% year over year, and we expect cont...
AstraZeneca is a holding company. Through its subsidiaries, Co. operates as a biopharmaceutical company engaged in discovering, developing, manufacturing and commercializing its pipeline of small molecule and biologic prescription medicines, including targeted business development through collaboration, in-licensing and acquisitions. Co. is focused on three main therapy areas: Oncology, Cardiovascular and Metabolic Diseases, and Respiratory. Co. is also selectively active in autoimmunity, infection and neuroscience. In addition, Co. works across small molecules, oligonucleotides and other drug platforms, as well as biologic medicines.
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