Total H1 Revenue up 1%; Core Gross margin over 83%, up 1% point
Robust top-line performance, supported by externalisation, underpins accelerated investment in R&D to progress pipeline, up 24% in H1
Core SG&A efficiency programme - early progress: Core SG&A 35% of Q2 Total Revenue (Q4 2014: 44%)
- Sales & marketing effectiveness, centralisation of functions, process improvements, third-party spend, further efficiencies across support areas, footprint optimisation
Core H1 EPS stable, up 3% in Q2, enhanced by one-off tax benefit
FY 2015 Total Revenue guidance at CER improved: Now expected to decline by low single-digit percent (prior guidance - mid single-digit). Core EPS guidance at CER is unchanged: Expected to increase by low single-digit percent, reflecting the continued accelerated investment in R&D
The Board recommends an unchanged first interim dividend of $0.90
H1 Commercial Highlights
Growth platforms grew by 11%, representing 56% of Total Revenue:
1. Brilinta/Brilique: +42%. Achieved 10% new-to-brand prescription market share in the US
2. Diabetes: +32%, including 88% sales growth in Emerging Markets
3. Respiratory: +9%, ahead of market growth. Q2 sales up 11%
4. Emerging Markets: +14%. China sales growth of +19%
5. Japan: +2%, with Q2 sales growth of +6%
