AstraZeneca second quarter profit beats expectations

London: AstraZeneca on Friday beat expectations for its second-quarter profit, helped by better-than-expected sales of its oncology drugs.

"Each of our non-COVID-19 therapy areas saw double-digit revenue growth, with eight medicines delivering more than $1bn of revenue in the first half, demonstrating the strength of our business," Chief Executive Pascal Soriot said.

The Anglo-Swedish drugmaker - one of the strongest performers among listed European pharma companies - said the total revenue from oncology medicines increased 22 per cent in the first half of the year. The London-listed company, which reports its results in U.S. dollars, posted an adjusted profit of $2.15 per share on sales of about $11.42 billion.

Analysts were expecting $1.98 per share on sales of about $10.97 billion, according to company-compiled consensus estimates.

AstraZeneca stood by its 2023 forecast.