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AZN - AstraZeneca News Story

7029.83p -154.2  -2.1%

Last Trade - 11:06am

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

BUZZ-AstraZeneca pares losses after CEO downplays coronavirus threat

Fri 14th February, 2020 11:01am
(Adds updated stock movement, CEO quotes, 2019 share
performance)
    ** Shares of British pharma company  AZN.L  trim losses to
trade ~1% lower after falling as much as 6% earlier in session
    ** AZN has not seen disruption to China operations, with
minimal impact seen on clinical trials in the country after
coronavirus outbreak, says CEO Pascal Soriot on a call with
journalists  urn:newsml:reuters.com:*:nFWN2AE0D0
    ** Shares had dropped earlier on Friday when Astrazeneca
forecast revenue growth of around 10% for 2020, including a hit
from coronavirus outbreak  urn:newsml:reuters.com:*:nL4N2AE1LR 
    ** AstraZeneca expects 2020 core earnings per share to rise
by a mid-to-high-teens percentage 
    ** "We believe management guidance will disappoint, albeit
we would flag that AstraZeneca has attempted to quantify the
impact of COVID-19 in its guidance, with other large pharma
(e.g. GSK) excluding this impact" - Shore Capital analysts
    ** AZN says initial indicators for breast cancer drug
Enhertu are positive, on conference call with journalists  
    ** Stock jumped 29.5% in 2019, outpacing a 12.1% gain in the
UK blue-chip index  .FTSE  

 (Reporting by Samantha Machado & Aniruddha Ghosh in Bengaluru)
 ((Samantha.machado@thomsonreuters.com))
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