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British drugmaker AstraZeneca had a double shot of good news today.
It posted a 15% rise in first-half profit to $6.4 billion (£4.1 billion) and had a first nod of approval for Brilinta, its new blood-thinning medicine, from US regulators.
The big pharma firm reacted by telling the City to nudge up its annual profit expectations, from the $6.05-$6.35-per-share range it predicted in April to between $6.35 and $6.65.
Chief executive David Brennan said Astra's key brands, including Crestor for cholesterol and Seroquel for psychosis, were “doing a little better than we thought.” He added: “sales in emerging markets performed significantly better.”
The shares rose 137p, or 4%, to 3340p as analysts got excited about news that advisers to the US Food and Drug Administration had recommended Brilinta.
The market-leading blood thinner, Plavix, brought global sales of $9.1 billion for Sanofi-Aventis and Bristol-Myers Squibb last year, making it the world's second-best-selling drug behind cholesterol drug Lipitor.
Brennan said: “It's a very important product and we've also filed for regulatory approval in Europe and several other markets around the world.”
