Multinational pharmaceutical and biopharmaceutical company AstraZeneca could be facing an uncertain future, after it was predicted that it would announce a fall in revenue over the last year.
The British-Swedish firm, which employs more than 6,000 people in the UK across seven sites, has been facing increased pressure from competition in the diabetes and respiratory drugs markets. According to international news agency Reuters, the company is expecting a low to mid single-digit percentage decline in revenue this year.
Some reports say the firm’s financial results will see a 6% fall in revenue, accompanied by a 7% slump in profits for the year.
Along with other pharmaceutical companies, AstraZeneca is facing issues produced by rival firms manufacturing cheaper, generic forms of its drugs, including its best-selling Crestor, which is used to treat patients with high cholesterol.
Declines in sales and profit will, of course, worry investors and shareholders in the company, who will be looking to Pascal Soriot, AstraZeneca’s chief executive, to outline his strategy for dealing with falling profits. Mr Soriot has said that 2017 has the potential to be a turning point for the company as it brings new medicines to patients across the globe.
Investors will also be looking for an update on the firm’s outlook for this year, including its externalisation revenue – that is the money created through other forms of income such as the sale of assets, in order to offset potential falls in revenue.
Shareholders will also be very interested in the results of AstraZeneca’s recent clinical trials, the largest of which, named Mystic, has been looking at the effectiveness of two drugs to treat lung cancer.
The results of the trials will have to be very positive in order to give the company a glimmer of hope for a better future and restore shareholders’ confidence in the firm’s future profitability. Like all new drugs and medical devices, these proposed treatments are having to go through rigorous procedures before they can be used by medical professionals.
As part of these trials, clinical staffing services such as those offered by http://www.gandlscientific.com/clinical-staffing-solutions/, may be required.
It is services such as these which help ensure all new drugs are both fit for purpose and safe to use, and that all new medicines get to patients in the shortest time possible.