Bloomberg News

AstraZeneca Says 4Q EPS Likely to Be in Lower End of Range

December 20, 2011

Dec. 20 (Bloomberg) -- AstraZeneca Plc, the U.K.’s second- biggest drugmaker, said earnings per share will be at the low end of its forecast, hurt by research setbacks.

The company will take a charge of $381.5 million in the fourth quarter after two experimental medicines had disappointing results, London-based AstraZeneca said in a statement today.

A medicine called olaparib for ovarian cancer won’t move to the next stage of clinical trials and an advanced study of another drug for patients with major depressive disorder did not meet its goal, AstraZeneca said.

Core earnings per share will likely be “in the lower half” of the company’s $7.20 to $7.40 estimate in the fourth quarter, the statement said.

--Editor: David Whitehouse.

To contact the reporter on this story: Marthe Fourcade in Paris at mfourcade@bloomberg.net

To contact the editor responsible for this story: Kristen Hallam at khallam@bloomberg.net


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