Astra's profits fall as generics swallow market share

AstraZeneca, the UK's second biggest pharma company, is sticking to its full year guidance despite a continuing slump in profits as competition from generic drugs heats up.

AstraZeneca, the UK's second biggest pharma company, is sticking to its full year guidance despite a continuing slump in profits as competition from generic drugs heats up.

Astra, which reports in dollars, saw core profits before tax of $2.164bn between April and June, a decline on 2011 of 33%, or 28% at constant exchange rates.

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