AstraZeneca reports drop in annual profits
Anglo-Swedish pharmaceuticals company AstraZeneca posted on Thursday a 59-percent drop in annual net profits, citing the loss of exclusivity on several key brands.
AstraZeneca's profit after tax dropped to $2.556 billion last year compared with $6.240 billion in 2012, it said in a statement.
"As expected, our financial performance for 2013 reflects the ongoing impact from the loss of exclusivity for several key brands," said chief executive Pascal Soriot
"In the near term these headwinds will remain challenging," he added.
AstraZeneca announced also a net loss of $524 million in the fourth quarter compared with a profit of $1.507 billion in the final three months of 2012.
Comments
See Also
AstraZeneca's profit after tax dropped to $2.556 billion last year compared with $6.240 billion in 2012, it said in a statement.
"As expected, our financial performance for 2013 reflects the ongoing impact from the loss of exclusivity for several key brands," said chief executive Pascal Soriot
"In the near term these headwinds will remain challenging," he added.
AstraZeneca announced also a net loss of $524 million in the fourth quarter compared with a profit of $1.507 billion in the final three months of 2012.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.