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Q1 revenue up 19% to $12.68 bln

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AstraZeneca ( AZN ) sticks by FY forecast announced in Feb

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Oncology revenue up 26% in qtr

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April 25 (Reuters) - AstraZeneca ( AZN ) sailed past

market expectations for quarterly revenue and profit on

Thursday, underpinning strong demand for its blockbuster drugs

and steady sales from partnered medicines.

Oncology, the Anglo-Swedish drugmaker's top business,

clocked a 26% jump in first-quarter sales to $5.12 billion.

CEO Pascal Soriot has rebuilt the company's pipeline of new

drugs since taking the helm more than a decade ago, to make

blockbusters such as lung cancer drug Tagrisso, leukaemia drug

Calquence and Farxiga for diabetes.

Combined revenue from partnered medicines, such as breast

cancer therapy Enhertu with Daiichi Sankyo ( DSKYF ) and asthma

medicine Tezspire with Amgen ( AMGN ), jumped by more than 60%

in the three-month period, fuelling overall growth.

The number two London-listed company by market value

reported core earnings per share of $2.06 on a 19% year-on-year

rise in total revenue to $12.68 billion. Analysts had expected a

core profit of $1.92 per share on revenue of $11.84 billion,

according to a company-compiled consensus.

AstraZeneca ( AZN ) stuck by its forecast of total revenue and core

earnings per share increasing by percentages in the low

double-digits to low-teens in 2024.

The company said two weeks ago it would raise its annual

dividend by 7% this year, betting on a strong performance and

cash generation from its blockbuster drugs and several recent

acquisitions.

Other businesses, such as rare diseases and respiratory and

immunology, also clocked double-digit percentage growth in

quarterly sales.