Page 24 - ARUBA TODAY

Friday 28 July 2017 BUSINESS
A24

Shares in AstraZeneca dive as key cancer drug trial fails

Associated Press survival rates in patients with tively, booked in billions of two blockbuster drugs hurt revenue declined 10 per-
LONDON (AP) — Shares in non-small cell lung cancer. dollars of future sales from sales. The company has cent to $5.05 billion as sales
Anglo-Swedish drugmaker Investors saw the results as the combination therapy,” been seeking to develop of the cholesterol drug Cre-
AstraZeneca plunged as a major setback because said Nicholas Hyett, an eq- new treatments to fight off stor fell 40 percent. Sales
much as 17 percent Thurs- the company had hoped uity analyst at Hargreaves competition from generic of the anti-depressant Se-
day after a new lung can- the study, known as Mystic, Lansdown. “Those health- drugmakers. The potential roquel XR dropped 58 per-
cer treatment proved less would show Imfinzi to be care billions will now be go- for such drugs was repeat- cent. Net income totaled
successful than the com- more effective than stan- ing elsewhere.” AstraZen- edly described as one of $477 million compared
pany had hoped. dard chemotherapy. eca reported the findings AstraZeneca’s strengths with a loss of $3 million in
AstraZeneca said human “Analysts have been wait- along with second-quarter when it fended off a take- the same quarter last year
trials of the drug Imfinzi ing for the numbers from financial results that were over bid from U.S. drug- as AstraZeneca reined in
failed to meet the goal of the Mystic trial for months less than rosy as the loss maker Pfizer, which makes costs and increased sales
improving progression-free and had, admittedly tenta- of patent protection for Viagra. Second-quarter of cancer drugs.q

Shell preparing for world economy that shifts away from oil

tive in a world that gets gasoline starting in 2040 as
more of its energy from re- part of a sweeping plan to
newable sources and less tackle air pollution. France
from crude oil, or “liquids,” announced a similar initia-
he said. tive earlier this month.
“The most aggressive sce- Car makers are also mov-
nario - much more aggres- ing in this direction. Volvo
sive than what we are see- says that by 2019 all of its
ing at the moment, by the cars will be powered by
way - with maximum policy electricity or hybrid en-
effect, with maximum in- gines.
novation effect, can see “It’s not a surprise that the
us peaking in liquids con- international super-majors
sumption somewhere in are starting to accept a
the early thirties,” he said future with the question
as Shell reported second- of just how much oil and
quarter earnings. “If there gas is needed,” said David
are a lot of biofuels in the Elmes, an energy industry
mix, that may mean that oil expert at Warwick Business
will peak in the late twen- School.
ties, but then everything “They realize that is now in
has to work up.” their planning horizons and
Van Beurden’s comments therefore needs to be dis-
This photo shows the Shell logo at a petrol station in London. Royal Dutch Shell is planning for the come amid increased fo- cussed with shareholders
day when demand for oil starts fading as major economies move away from oil and increasingly cus on the future of the because it is influencing
turn to electric-powered cars. industry after the Paris cli- the decisions today, and
(AP Photo/Kirsty Wigglesworth)
mate agreement saw gov- one might argue that has
By DANICA KIRKA from oil and increasingly powered by fossil fuels in ernments commit to tough- been prompted by share-
Associated Press turn to electric-powered Britain and France, saying er action on emissions and holder activism.”
LONDON (AP) — Royal cars, Chief Executive Ben they are needed to com- shareholders push for more Shell has already begun to
Dutch Shell is planning for van Beurden said Thursday. bat global warming. Shell long-term plans. respond to changing en-
the day when demand Van Beurden welcomed is looking at “very aggres- Britain this week pledged ergy demand by increas-
for oil starts fading as ma- recent proposals to phase sive scenarios” as it makes to ban the sale of new cars ing its focus on natural gas,
jor economies move away out passenger vehicles plans to remain competi- and vans using diesel and van Beurden said. q
P&G beats 4Q forecasts but irks activist investor Trian

CINCINNATI (AP) — Procter son Peltz. for years in an attempt to P&G Board will help P&G 85 cents per share.
& Gamble reported profit In a statement, Trian said boost profits. Its shares are become best-in-class,” Tri- The results topped Wall
and revenue that beat Wall P&G “needs to address the up almost 7 percent in the an said. “As a motivated Street expectations. The
Street expectations, but it root causes of this consis- past 12 months, but have independent director, he average estimate of 10
wasn’t good enough for tent underperformance, lagged behind competi- will have a laser focus on analysts surveyed by Zacks
at least one major share- including deteriorating tors Unilever, Johnson & long-term shareholder val- Investment Research was
holder. market share across most Johnson and Colgate-Pal- ue creation that can ac- for earnings of 78 cents per
The world’s largest con- of its categories and exces- molive for years. celerate positive change share. P&G had earnings of
sumer products maker sive cost and bureaucracy. Trian, which FactSet lists as at P&G.” 69 cents per share for the
posted fiscal fourth-quarter While P&G says it is address- the fifth largest shareholder Revenue for fiscal 2017 was same quarter last year.
profit of $2.22 billion, beat- ing the underperformance with approximately $3.3 bil- $16.1 billion, which beat The Cincinnati-based com-
ing Wall Street forecasts issue, shareholders have lion of P&G shares, suggest- Street forecasts of $16 bil- pany said organic sales —
and the $1.95 billion posted heard similar promises in ed appointing Peltz to the lion, but was effectively flat a closely-watched figure
in the same quarter last the past and results have Board of Directors. from 2016. that strips out the effects
year. But the company has not materially improved.” “Nelson Peltz has been in- On a per-share basis, the of foreign currency swings,
consistently trailed its com- The maker of Tide deter- volved with numerous suc- Cincinnati-based compa- acquisitions and dives-
petitors, drawing the ire of gent and Charmin toilet cessful turnarounds of con- ny said it had profit of 82 titures — rose 2 percent
activist investor Trian Fund paper has been shedding sumer brands and business- cents. Earnings, adjusted quarter-over-quarter and
Management, led by Nel- underperforming brands es, and adding him to the for restructuring costs, were year-over-year. q