Good progress predicted for AZ's product pipeline

AstraZeneca has predicted continued good progress for its product pipeline, with 14 high quality candidates nominated ahead of target. Unveiling pre-tax profits of US$4.1bn for the full year 2000, an increase of 16% on the previous year, company ceo Tom McKillop said, 'Significant progress was made last year… AstraZeneca is operating successfully as a single unified global organisation and our r&d pipeline made strong progress.'

During the year, the company recorded growth in healthcare sales of 8%, in line with its target. Sales of Losec (Prilosec) increased and the rollout of Nexium continued, with the product available in nine European markets and expected to launch in the US in the first quarter of 2001.

McKillop expects the next two-year period to be challenging. ' We shift our reliance on maturing products such as Losec towards an exciting new generation of medicines with high potential that will form the basis for future growth,' he said. He predicts mid-single digit sales growth for 2001, supported by investment in sales and marketing capabilities and in r&d, especially for post-launch studies.

The company reported sales increase of 22% equivalent to US$2.1bn in total in the US for the fourth quarter. This included a 26% increase in sales of Prilosec. European sales were hampered by a downturn in sales in Germany and the UK, but strong performance was reported in France and Italy.