AstraZeneca is forecasting long-term growth following a bumpy road involving the expiration of key patents, Pascal Soriot, the company’s chief executive, reportedly said during a conference call.
Product sales, according to a pharmaphorum report, were reported to have increased 9 percent to some $5.3 billion, though operating profits had posted a 21 percent drop to $851 million.
Soriot during the call said profits will begin an upward trajectory as a new generation of more profitable drugs gain traction.
“We have reached an important inflection point,” he said. “We are now on track for single-digit growth for the full year. That growth will accelerate on the momentum from the new products.”