AstraZeneca earnings hit by waning cholesterol drug sales

Generic competition to cholesterol fighter Crestor in the key U.S. market hit second-quarter earnings at drugmaker AstraZeneca, which is now banking on new cancer medicines to revive its fortunes. Core earnings per share, which exclude some items, fell 31 percent to 83 cents as revenue slid 11 percent $5.60 billion, following the arrival of the first copies of Crestor in the United States in May. Industry analysts had on average forecast quarterly revenue of $5.58 billion and earnings of 84 cent