By Adria Calatayud

AstraZeneca PLC reported results for the third quarter of 2020 on Thursday. Here's what you need to know:

SALES: The British pharmaceutical giant said total revenue for the third quarter was $6.58 billion, up 2.7% on year. This was slightly below analysts' expectations of $6.61 billion, according to a consensus provided by FactSet and based on estimates from 11 analysts.

CORE EPS: AstraZeneca's third-quarter core earnings per share--a closely-watched metric that strips out exceptional items--fell 4% to $0.94, against analysts' expectations of $1.01, according to a FactSet-provided consensus based on estimates by eight analysts.

WHAT WE WATCHED:

-COVID-19 VACCINE: AstraZeneca PLC said late-stage trials for the Covid-19 vaccine it is developing with the University of Oxford are on track to produce results later this year, although timing of the data depends on community infection rates around the world. Around 23,000 volunteers enrolled in the clinical trials in the U.S., the U.K., Brazil and South Africa. Shore Capital analyst Adam Barker said he anticipates data will be available before the end of November.

-ONCOLOGY: The company's oncology sales rose 13% in the third quarter, and AstraZeneca Chief Executive Pascal Soriot said success in this therapy area was one of the highlights of the period. Analysts at UBS said sales of cancer drugs Imfinzi and Lynparza were slightly weaker than expected but this was offset by better-than-forecast sales of Tagrisso and Calquence.

-CHINA: AstraZeneca's sales in China were up 6% at $1.35 billion in the third quarter. The company said its Chinese sales were reduced by challenges facing its asthma treatment Pulmicort, as sales have been hit by the coronavirus pandemic, as well the inclusion of its Brilinta, Losec and Arimidex medicines in China's volume-based procurement program and AstraZeneca's decision not to compete with generic competitor price in the tender process.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

11-05-20 0710ET