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AZN - AstraZeneca News Story

7032p -152.0  -2.1%

Last Trade - 10:45am

Sector
Healthcare
Size
Large Cap
Market Cap £94.27bn
Enterprise Value £105.29bn
Revenue £19.94bn
Position in Universe 6th / 1834

AstraZeneca's CEO reaffirms 2021 targets

Fri 14th February, 2020 12:14pm
LONDON, Feb 14 (Reuters) - AstraZeneca  AZN.L  is fully on
track to reach its earnings goal for next year, its chief
executive told Reuters on Friday after the British drugmaker's
quarterly earnings missed market expectations.
    "What we've said is that by 2021 we would cover the dividend
in full and we would target an operating margin north of 30%. 
This is very much in line with what we are targeting," CEO
Pascal Soriot said, following the release of fourth-quarter
results.  urn:newsml:reuters.com:*:nL4N2AE1LR
    AstraZeneca is moving into a third year of sales growth
after changes driven by Soriot and now has nine drugs with
annual sales of more than $1 billion but analysts and investors
have been looking for clues whether the company's earnings
growth would keep up.
    The company's 2019 operating margin, or earnings before
interest and tax over total revenue, was 26%.

 (Reporting by Ludwig Burger; editing by David Evans)
 ((ludwig.burger@thomsonreuters.com; +49 69 7565 1311; Reuters
Messaging: ludwig.burger.thomsonreuters.com@reuters.net))
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