AstraZeneca experiences significant sales growth due to introduction of new drugs
The pharmaceutical manufacturer, AstraZeneca, has seen considerable sales growth due to the increased demand in its new drugs during the third quarter, Reuters reports.
With sales rising 8% in constant currencies, shares in the group increased 2% in early trading on Thursday (8 November).
Since 2012, AstraZeneca has experienced a significant reduction in patents on older drugs, however, with the implantation of 10 new medicines, has seen a growth of 85% during the last quarter.
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The medicines include Imfinzi and Tagrisso which can be used for lung cancer, Fasenra to treat severe asthma and Lynparza for ovarian cancer.
The firm also hopes for success for Farxiga, which can be used to help diabetes and reduce heart risks with the drugmaker predicting years of continued improvement for its medicines.
China has seen a 32% increase in the quarter with AstraZeneca continuing to beat competitors in the world’s second biggest drugs market.
Chief Executive, Pascal Soriot, said: “Today marks an important day for the future of AstraZeneca, with the performance in the quarter and year to date showing what we expect will be the start of a period of sustained growth for years to come.”