AstraZeneca: Q1 2015 in line with estimates and FY guidance

NEUTRAL, Fair Value  4880p (0%)
News published on April Friday 24, 2015
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AstraZeneca today reported numbers in line with consensus estimates but of relatively poor quality. Sales were a touch below estimates and key drugs for the future disappointed. Core R&D and SG&A expenses surged by 24% and 10% respectively. All this was offset by non-recurring milestone payments and disposal gains. In the end, Core EPS is in line. We do not see room for upside.

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