AstraZeneca Skids on Results

AstraZeneca (NYSE:AZN) revealed full-year results Friday., which proved an anchor around its stock price

The drug maker reported total revenue up by 13%; including product sales up by 15% (+9% in Q4); lower collaboration revenue (-20%) Strong sales performance across the board: new medicines (+62%); Oncology (+47%), New CVRM2 (+12%), Respiratory (+13%) and Emerging markets (+24%)

Core operating profit up by 13% despite lower total of CR/OOI3 (-24%) Core EPS4 $3.50, including 20% tax rate Guidance (depending on the impact of the Covid-19 epidemic).

Total revenue is expected to increase by a high single-digit to a low double-digit percentage Core EPS expected to increase by a mid- to high-teens percentage

Like the more progressive companies, AstraZeneca also looks to protect the planet. AstraZeneca aims to eliminate CO2 emissions by 2025 and become carbon negative by 2030.

The billion-dollar programme will include the launch of next-generation respiratory inhalers and a wide range of energy initiatives to reduce climate impact to zero. AstraZeneca has joined the Sustainable Markets Council to drive climate policy change. Reforestation plans for 50 million trees.

CEO Pascal Soriot said, "Driven by a strong team, 2020 is anticipated to be another year of progress for AstraZeneca. We are becoming a better-balanced business, both regionally and through our medicines. This transition is a further step towards improving operating leverage and cash generation.

"As we accelerate our commitments to achieving our long- term climate-change and decarbonisation targets, we will maintain our focus on executing a strategy centred on science and patients."

Shares dragged $1.46, or 3%, to $47.87.