AZN Impresses With Q4 Results, 2010 Guidance; Announces Dividend Hike

AstraZeneca (NYSE: AZN) reported its Q4 non-GAAP EPS at $1.42, exceeding the Street view of $1.52. AZN’s revenues for the quarter came at $8.95 billion as compared to the consensus of $8.85 billion.

The company forecasted its EPS for 2010 at $5.75-$6.15 versus the consensus expectations of $6.04. AZN expects its sales to be affected in 2010 by the loss of market exclusivity for Arimidex and Pulmicort Respules in the US. AXN expects a decline of a maximum of mid single-digits in revenues in 2010 on a constant currency basis. For the next five years, AZN expects its sales in the range of $28-$34 billion per year.

AstraZeneca has recommended a 14% hike in its second interim dividend to $1.71 to be paid on 15 March 2010. This drives AZN’s full year dividend to $2.30, reflecting a 12% increase.

For 2010, AZN has announced a stock buyback of up to $1B of shares. The company’s shares have slipped by 4.83% to $47.24.

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