04-02-2016 08:27 via news.yahoo.com

AstraZeneca sees fall in 2016 earnings as Crestor loss weighs

LONDON (Reuters) - AstraZeneca expects a low to mid single-digit percentage decline in earnings in 2016 as the arrival of cheap generic copies of cholesterol fighter Crestor offsets growth in sales of new medicines, the British-based drugmaker said on Thursday. Revenue in the fourth quarter of last year fell 5 percent to $6.40 billion, hit by earlier drug patent expiries, generating core earnings per share, which exclude certain items, up 26 percent at 94 cents. Industry analysts had on average
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