AstraZeneca Profit Falls as Recent Purchases Push Up Costs
- Earnings per share were 95 cents; analysts estimated 96 cents
- Drugmaker reiterates 2016 forecast for revenue, profit
AstraZeneca 1Q Core Earnings Per Share Misses Estimate
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AstraZeneca Plc said first-quarter earnings fell 12 percent and detailed a plan to cut costs as its best-selling treatments face generic competition.
Earnings per share excluding one-time items declined to 95 cents, the London-based company said Friday in a statement. Analysts had predicted 96 cents, according to the average estimate compiled by Bloomberg. The drugmaker expects to incur $1.5 billion in one-time restructuring costs this year as it reduces expenses in sales and manufacturing.