AstraZeneca reports jump in Q3 profit

LONDON Profits for AstraZeneca were up by 27% for third quarter 2009 compared with third quarter 2008, the Anglo-Swedish drug maker announced in an earnings report Thursday.

The company reported an operating profit of $3.2 billion, compared with $2.5 billion a year ago, boosted by a 10% increase in revenue during the same period, from $7.8 billion in third quarter 2008 to $8.2 billion this quarter.

The companies A-H1N1 influenza vaccine had $152 million in U.S. sales, accounting for 2% of global revenue growth when exchange rates were taken into account. The withdrawal of generic versions of the hypertension drug Toprol-XL (metoprolol succinate) helped that drug account for 3% of global revenue growth. The Food and Drug Administraiton and European Medicines Agency also approved Onglyza (saxagliptin) as a treatment for diabetes.

Still, the company had some disappointments, notably its withdrawal of the regulatory approval application for the lung cancer drug Zactima (vandetanib).

“Our strong business performance is driven by good operating execution bolstered by revenue upsides from Toprol-XL and H1N1 vaccine sales,” CEO David Brennan said in a statement.