AstraZeneca PLC (AZN) Warns of Higher Costs as Drug Sales Slide
8/1/2013 7:05:27 AM
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British drugmaker AstraZeneca warned on Thursday of higher costs in 2013 as it invests through a slump in sales caused by a wave of patent expiries on key medicines. The prediction that operating costs will now increase by a low-to-mid single digit percentage rate this year amounts to an effective cut in earnings guidance, analysts at Jefferies said. Deutsche Bank said consensus full-year earnings forecasts could fall by a couple of percent.
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