Hardman & Co Research: AstraZeneca: Where has all the cash gone?

Hardman & Co Research 
Hardman & Co Research: AstraZeneca: Where has all the cash gone? 
 
05-Jun-2019 / 12:36 GMT/BST 
 
*Hardman & Co Research: AstraZeneca: Where has all the cash gone?* 
 
Historically, AstraZeneca (AZN) was a leading global pharmaceutical company, 
but it has slipped down the rankings following a period of patent expiry on 
major drugs, notably Nexium, Losec and Seroquel. Understandably, the 
financial performance, particularly operational cashflow, has suffered 
through this period and AZN has moved from a net cash ($339m) position in 
2009 to net debt of $16.3bn at the end of 1Q'19, necessitating a cash call. 
Better planning, notably earlier cessation of share buybacks and re-basing 
its dividend, would have left it in a much stronger position. Meanwhile, its 
use of 'core' EPS greatly overstates true performance. 
 
Please click here for the full report: 
 
https://www.hardmanandco.com/astrazeneca-where-has-all-the-cash-gone/ [1] 
 
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819819 05-Jun-2019 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=a314aa9a96ec0c7161e3dedf578fa791&application_id=819819&site_id=vwd&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=5a632f52f80bd372265e4041a743aa1c&application_id=819819&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

June 05, 2019 07:36 ET (11:36 GMT)