AstraZeneca: Weak Crestor sends Q3 below estimates + new CFO + Pulmicort good to have in 2014

BUY, Fair Value  3620p (+9%)

News published on October Thursday 31, 2013
Share on

Three different pieces of news to report for AstraZeneca today: another set of poor quarterly numbers, even slightly below estimates as Crestor is facing tough times in most regions with generic entries in Australia and Canada and increasing pressure in the US; Marc Dunoyer surprisingly appointed as new CFO while he was expected to be in charge of strategy and business development; a positive Appeal Court decision for Pulmicort that should secure circa USD260m in profits from Teva at least in 2014. No change to our investment thesis : R&D pipeline is now focus number 1.

Full report available to subscribers
Please contact   

The Essentials

Everything you need to know about investment banking dedicated to growth
Recent Transactions Highlights
From M&A, to IPOs see what’s been happening at Bryan, Garnier & Co this year
Join our Team
Bryan, Garnier & Co is always looking for talent in all our divisions, at all levels
Explore our opportunities