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    • AstraZeneca says...

    AstraZeneca says second quarter earnings dropped 27 percent

    Written by Ruby Khatun Khatun Published On 2018-07-29T09:45:27+05:30  |  Updated On 29 July 2018 9:45 AM IST
    AstraZeneca says second quarter earnings dropped 27 percent

    LONDON: Anglo-Swedish drugmaker AstraZeneca says second-quarter earnings dropped 27 percent as it shifted away from dependence on its former blockbuster drugs and toward new cancer drugs.


    The company says net income fell to $350 million from $477 million in the same quarter a year earlier. Core operating profit, the company's preferred performance measure, fell 18 percent to $1.26 billion.


    Sales of cancer drugs, including Lynparza and Tagrisso, rose 44 percent to 1.43 billion. That helped offset a 40 percent decline in sales of Crestor as the cholesterol treatment lost patent protection in Europe and Japan.


    CEO Pascal Soriot said, "AstraZeneca's rich pipeline and sharp commercial focus make us confident that we have in place the right conditions for our return to growth this year."

    AstraZenecablockbuster drugscancer drugsdroppedearningsLynparzaPascal Soriotpatentprofitprotectionsecond quarterTagrisso
    Source : AP

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    Ruby Khatun Khatun
    Ruby Khatun Khatun
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