AstraZeneca, in earnings trough, doubles down on cancer drugs

By Ben Hirschler LONDON (Reuters) - AstraZeneca is increasing its focus on cancer treatments in a drive to streamline operations after underlying earnings, hit by drug patent expiries, fell 12 percent in the first quarter, broadly in line with analyst expectations. Chief Executive Pascal Soriot said on Friday that he would sharpen the prioritisation of investments and increase spending in oncology while cutting commercial and manufacturing operations.