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By Lisa Pham

February 9, 2023 at 7:09 AM UTC

Updated on

February 9, 2023 at 8:22 AM UTC

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AstraZeneca Plc said earnings are being boosted by demand for drugs like Farxiga for diabetes and Tagrisso for cancer, showing that Chief Executive Officer Pascal Soriot’s efforts to rejuvenate its pipeline of treatments are paying off.

Core earnings per share will probably rise by a high single-digit to low double-digit percentage, the UK drugmaker said Thursday, roughly in line with what analysts anticipated. Profit in the fourth quarter beat estimates. The stock rose as much as 2.9% in London trading.