AstraZeneca Profit Falls as Top Drugs Lose Patent Protection
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AstraZeneca Plc, the second-largest U.K. drugmaker, said earnings fell in the first quarter as sales of two of its biggest medicines continued to decline and currency fluctuations took a slice from revenue.
Profit excluding certain items slipped to $1.37 billion, or $1.08 a share, from $1.47 billion, or $1.17, a year ago, the company said in a statement. That matched the average estimate from 13 analysts surveyed by Bloomberg. Total revenue was $6.06 billion, down from $6.46 billion a year earlier.