SummaryCompanies Q2 sales and earnings beat estimatesReiterates full-year guidanceNo revenue from COVID vaccine in Q2Shares up 3.1% in early tradeCompany is largest drugmaker in ChinaLONDON, July 28 (Reuters) - AstraZeneca (AZN.L) on Friday delivered better-than-expected profits and sales in the second quarter as a strong performance of its blockbuster cancer drugs helped offset the loss of COVID-19 vaccine sales.
The Anglo-Swedish drugmaker posted an adjusted profit of $2.15 per share, up 25% and exceeding the $1.98 per share expected in company-compiled consensus estimates.
Total revenue in the quarter was $11.4 billion, up 6% and beating company-compiled analyst estimates of $10.97 billion.
Excluding COVID medicines, sales in China grew by 7% at constant exchange rates in the quarter, the fourth consecutive quarter of growth on that basis.
AstraZeneca is the largest drugmaker in China, which accounted for 13% of last year's revenue.
Persons:
Swedish drugmaker, Pascal Soriot, Markus Manns, Alexion, drugmaker, Maggie Fick, Radhika Anilkumar, Nivedita Bhattacharjee, Josephine Mason
Organizations:
AstraZeneca, UK's, Pfizer, Moderna, U.S, Union Investment, Thomson
Locations:
China LONDON, Swedish, China, London, Bengaluru