AstraZeneca Q1 2020 Revenue Rises 16% Globally, Driven by 14% Growth in China and Strong Tagrisso Sales Nearing $1 Billion

By Feng Qiu

On April 29, AstraZeneca announced its Q1 2020 financial results, reporting revenue of $6.354 billion, a 16% year-on-year increase. Revenue from China amounted to $1.416 billion, representing a 14% year-on-year growth and accounting for 22.29% of AstraZeneca’s global total revenue.

Based on the data, emerging markets, including China, had already become AstraZeneca’s largest global business segment by 2019, and this remained the case in Q1 2020, with revenues reaching $2.273 billion (+13%). Sales of newly launched drugs increased by $1.098 billion.

Several drugs demonstrated strong sales performance, including the third-generation EGFR inhibitor Tagrisso (osimertinib), the PARP inhibitor Lynparza (olaparib)—backed by the prestige of Nobel Prize-winning research—and the PD-L1 monoclonal antibody Imfinzi (durvalumab). Following the inclusion of osimertinib in China’s National Reimbursement Drug List in 2019, its sales volume in China increased significantly. Meanwhile, Imfinzi successfully gained marketing approval in China, becoming the first PD-L1 monoclonal antibody approved for launch in the country. These developments have further consolidated AstraZeneca’s robust growth in the Chinese market.

Additionally, regarding the impact of the COVID-19 pandemic, AstraZeneca stated that there had been no substantial disruptions to its supply chain. The rapid resumption of production and work in China resulted in negligible impact on supply; however, the full extent of the impact caused by the global spread of the pandemic may not be reflected until the release of the semi-annual report. Furthermore, AstraZeneca is conducting a Phase III clinical trial of dapagliflozin in patients with COVID-19 to evaluate its efficacy in reducing the risk of clinical complications and mortality.