As sales soar in China, AZ warns of hit from COVID-19 epidemic

Just as China jumped to become AstraZeneca’s second-largest region by revenue, the U.K. pharma warned in its 2020 guidance that the COVID-19 outbreak may have a negative impact on revenues for at least the next few months.

AstraZeneca plc (LSE:AZN; NYSE:AZN) reported 2019 earnings that showed U.S. product sales of $7.7 billion, up 13% in constant exchange rates from the prior year and accounting for 33% of the company’s $23.6 billion in sales. China accounted for 21% of product sales, at nearly $4.9 billion, and continued to be the company’s fastest growing region, up 35% from the prior year...