UK pharma giant AstraZeneca has reported 4% sales growth and a 3% increase in revenue for the last quarter of 2017 – though annual profits were down 25%.
Fourth-quarter revenue was $5.77bn compared with $5.58bn in 2016.
However, operating profits for Q4 were $686m, a 73% fall on the same period in 2016, when the company generated profits of $2.53bn.
Over the full financial year, operating profit in 2017 was 25% down at $3.67bn compared with $4.90bn in 2016.
Full-year revenue was $22.46bn, compared with $23.0bn in 2016, a drop of 2%.
AstraZeneca chief executive Pascal Soriot said: “AstraZeneca’s revenues improved over the course of the year, a sign of how our company is steadily turning a corner.
“Strong commercial execution helped us bring our science to more patients, making the most of our exciting pipeline.
“Alongside our CVMD medicines Brilinta and Farxiga reaching blockbuster status, we launched our first Respiratory biologic medicine, Fasenra and new cancer medicines, Imfinzi and Calquence.
“As well as bringing five new medicines to patients last year, we continued to find more potential uses for existing treatments.”