StockMarketWire.com - AstraZeneca upgraded its guidance on product sales following a 16% rise in the third quarter of the year, led by growth in its portfolio of cancer drugs.

Product sales at constant currency were now expected to increase by a low to mid-teens percentage; the prior guidance was for a low double-digit percentage increase, the company said.

The upgrade came as product sales increased by 16% in the third quarter to $6.1m.

For the year to date, oncology product sales delivered 50% growth to $6,393m, representing more than a third of total revenue of $17.3m for the period.

'With AstraZeneca growing at pace, our sales guidance has been upgraded for the second consecutive quarter. Another strong performance from our new medicines accompanied impressive results in our key markets, most notably in China, the US and Japan,' said Pascal Soriot, chief executive officer.




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