AstraZeneca profit for the fourth quarter offset her lost outside the U.S. generic competition and weaker demand for influenza vaccine market sales analyst estimates.
Net income rose to $1.62 billion, or $1.14 a share, from $1.55 billion, or $1.07 a share, for the same period a year earlier, the London-based drugmaker said today in a statement.
That average estimate of 17 analysts surveyed by Bloomberg was 93 cents a share. Profit excluding some items was $1.39 a share, compared with the $1.33 average estimate of 21 analysts.
Revenue declined to $8.62 billion from $8.9 billion, exceeding the average estimate of $8.35 billion expected by 26 analysts surveyed by Bloomberg. Overall sales this year will likely be flat or decline by a low single-digit percentage due to increasing generic competition for breast cancer drug Arimidex, the company said.
AstraZeneca plans to buy back $4 billion in stock this year, after buying back $2.1 billion in 2010, the company said.
Earnings excluding restructuring costs and other items will be between $6.45 and $6.75 a share in 2011, the company said.
The company forecast 2014 revenue will be in the middle of a $28 billion to $34 billion range.
AstraZeneca yesterday rose 18 pence, or 0.6 percent, to 3,091.5 pence at 8:02 a.m. in London trading.
Before today, the stock return over the past year, including reinvested dividends 4.2%, trailing the Bloomberg Europe Pharmaceutical Index return of 7.1%.

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