AstraZeneca cuts estimates after passive rumors about two drugs
Finanzaonline.com – 20.12.11/08:21
European pharmaceutical sector in turmoil after the announcement released this morning by the British giant AstraZeneca PLC which has in fact halved the estimates for the current year due to the extraordinary passive items relating to two of its drugs. The company expects unanticipated costs of $381 million in the fourth quarter that will inevitably impact the company's results.
Source: Finanza.com
AstraZeneca: extraordinary charge will reduce 2011 profit
AstraZeneca (GB0009895292) warned this morning that earnings for 2011 will settle in the low end of the range previously indicated and between $7.20 and $7.40 per share. The pharmaceutical group indicates in a note that due to the failure of some studies it will enter a pre-tax charge of $381.5 million in the fourth quarter balance sheet. AstraZeneca estimates the impact on Q4 accounts to be $0.21 per share. Among the drugs that have not achieved the desired results are the anticancer olaparib and TC-5214 for the treatment of patients suffering from severe depression.
Tuesday, December 20, 2011
