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AstraZeneca hikes earnings forecast after surging cancer drug sales

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Louis Goss is a MarketWatch reporter based in London.

Anglo-Swedish drugmaker AstraZeneca on Thursday upped its earnings forecasts for the year as surging sales of cancer medicines offset plummeting sales of COVID vaccines.

The uptick in AstraZeneca’s revenues was largely driven by a 17% increase in sales of cancer drugs at constant exchange rates, to $4.66 billion, on the back of 53% higher sales of its cancer immunotherapy drug Imfinzi. Excluding lower sales of COVID vaccines across the globe, AstraZeneca’s sales increased in all regions worldwide, apart from China, as the firm showed particularly strong growth in emerging markets.

 

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