AstraZeneca shares slide despite earnings beating expectations

Shares in AstraZeneca fell after the pharmaceutical firm warned that its earnings would be lower this year as a result of falling sales of anti-cholesterol drug Crestor. It reported a 13% fall in revenue in the fourth quarter to $5.6bn (£4.4bn), as cheaper, generic versions of Crestor arrived in the US market and ate into earnings. AstraZeneca lost exclusive rights to Crestor – the last of its blockbuster drugs – in the US in July last year.