AstraZeneca Says Net Profits Climb On Cost-cutting
Fakhir Rizvi Published February 02, 2017 | 04:45 PM
LONDON, Feb 2 (UrduPoint / Pakistan Point News - 02nd Feb, 2017 ) - British pharmaceuticals giant AstraZeneca on Thursday said profits after tax rose by almost a quarter last year thanks partly to a deep cost-cutting programme.
Net profit rallied 24 percent to $3.
5 billion (3.2 billion Euros) in 2016 compared with a year earlier, the company said in a results statement. However, revenues retreated seven percent to $23 billion, hit by generic competition for blockbuster cholesterol drug Crestor in the key United States market, AstraZeneca added.
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