AstraZeneca Reports Strong Q3 and YTD 2023 Results: China Revenue Reaches $4.495B, Osimertinib and Dapagliflozin Each Surpass $4.3B in Global Sales

Nov 10, 2023 06:30 CST Updated 06:30

AstraZeneca

Biopharmaceutical Manufacturer

On November 9, AstraZeneca announced its Q3 and first nine months performance.Q3 revenue of $11.492 billion, up 6% year-over-year (In CER, the same below), with a revenue of 33.787 billion US dollars (+4%) in the first three quarters. Excluding COVID-19 products, the first three quarters and Q3 achieved growth of 15% and 13%, respectively.

AstraZeneca's Overall Revenue Situation for the First Three Quarters of 2023

Screenshot from: AstraZeneca official website

(Unless otherwise mentioned, the following content is from the same source.)）

By region, revenue in China for Q3 was $1.452 billion, up 1% year-over-year; revenue for the first three quarters was $4.495 billion, up 6% year-over-year.

AstraZeneca 2023 Q1-Q3 Revenue and Growth by Region

（Exclude COVID-19 Products）

By therapeutic area,Tumors and CVRM continue to lead with year-on-year growth rates of 20% and 19%, respectively.

AstraZeneca 2023 First Three Quarters Revenue and Growth by Region

Top 10 in SalesNo change compared to the previous quarter, key products such as dapagliflozin, durvalumab, and Ultomiris all remainedYear-on-year growth rate of over 40%Dagliflozin's total sales for this year may surpass Osimertinib, becoming AstraZeneca's top product; the BTK inhibitor Acalabrutinib also maintains a growth rate of 26%.

AstraZeneca Top 10 Products and Sales in the First Three Quarters of 2023

Specifically, let's look at the key products.ForOsimertinib, AstraZeneca hopes it has the capability to reach every EGFRm patient, with key Phase III clinical trials ongoing for resectable Stage I-III, unresectable Stage III, and 1L metastatic disease states, and has also initiated extensive exploration of combination therapies.AcalabrutinibThe new prescription share also leads among BTK inhibitors, surpassing the FIC product ibrutinib and the potential BIC zanubrutinib in the same field.

IO Products in Imfinzi/Imjudo 56%Under the high growth rate,The bispecific antibody pipeline is being actively advanced., PD-1/CTLA-4 bispecific antibody volrustomig has shown promising efficacy, with 4 Phase III clinical trials in the pipeline.

ADC Has Become a Must-Compete Area for MNCs, AstraZeneca, as the company with the foresight to be the first to introduce Daiichi Sankyo's Enhertu, is particularly noteworthy. In addition to the two collaborations with Daiichi Sankyo, AstraZeneca has five ADC pipelines in development, three of which are fully self-developed,2 items introduced from Chinese companies Connoymab and Limin.AstraZeneca highlighted the early data of CLDN18.2 ADC AZD0901, developed in collaboration with Connaught Mountain.

CGT is also a recent hot topic, AstraZeneca's CAR-T projectAZD7003 is currently in Phase I clinical development, alongside AZD0754 and AZD6422.

Biopharmaceutical Field, led by Farxiga, in the fields of chronic kidney disease, heart failure, and hypertensionWide coverage.

Potential milestones for 2023Q4~2024 are as follows:

Pipeline Removal Occurring in Q3：

On the same day, AstraZeneca also announcedTwo positive updates: The EMERALD-1 study of Imfinzi in combination with bevacizumab met the primary endpoint of PFS in patients with liver cancer;Partnering with China's Eternity Biopharma, a $1.85 billion upfront payment + $18.25 billion in milestone payments has been made to introduce GLP-1RA small molecules, directly targeting obesity and cardiovascular diseases.

In the transaction press release, the development direction of this product appears to focus more on obesity and cardiovascular diseases, which is also in line with the current major trend in the development of such drugs.

The two mainstream development directions in the GLP-1 field are dual-target agonists and small-molecule drugs. This year, in Q1, AstraZeneca terminated Cotadutide, a once-daily GLP-1R/GCGR dual agonist that was already in Phase IIb/III clinical trials, and shifted to developing AZD9550, a similar product administered once weekly. Recently, it has also introduced a small-molecule GLP-1RA. With these frequent moves this year, the company is striving to secure a share in this competitive arena by pursuing both approaches simultaneously.

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