AstraZeneca Profit Down 12.5 Percent
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Citing its acquisition of MedImmune and falling demand for its ulcer treatment,  the drugmaker said earnings fell to $1.27 billion in the fourth quarter.
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By Rosie Murray-West, City Correspondent (Filed: 14/09/2004). Astrazeneca shares plummeted yesterday as investors and analysts digested the pharmaceutical giant&#39;s announcement over potential blockbuster drug Exanta.
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of sales.
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Bristol-Myers Squibb Co. BMY.N on  Friday reported a lower third-quarter profit as revenue fell  amid intense competition for its products from rivals and  generic drugs.
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Pharmaceutical wholesaler McKesson  Corp  reported on Thursday that its quarterly profit  fell 17 percent as results were hurt by lower profit margins on  certain generic drugs and charges taken.
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The chemical maker reported a quarterly profit that was lower than expected, in part due to weak demand from the housing and auto markets.
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Shares of AstraZeneca Plc and GlaxoSmithKline Plc, the UK&#39;s two biggest drugmakers, fell after a US health official said two of their best-selling treatments need closer safety reviews.
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Pharmaceutical wholesaler McKesson  Corp  reported on Thursday that its quarterly profit  fell 17 percent as results were hit by charges and lower profit  margins on generic drugs.
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Eastman Chemical Co. EMN.N on  Tuesday warned that fourth-quarter profit would fall short of  expectations because of higher costs for chemical building  blocks, driving its shares down nearly 5 percent.
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Global drugs giant Pfizer sees profits fall after a drop in worldwide sales of cholesterol drug Lipitor.
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Shares in drug giant AstraZeneca fall after a US medical panel recommends that regulators reject its new drug Exanta.
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Shares in AstraZeneca Plc fell as much as 10 percent on Friday after regulators in the United States and Europe raised safety concerns about the Anglo-Swedish drug maker&#39;s anti-cholesterol treatment Crestor.
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Bristol-Myers Squibb (BMY:NYSE - news - research) reported a sharply lower profit in the third-quarter as generic competition continued to eat away at drug sales and the company ratcheted up spending on research and development of new drugs.
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Rentokil Initial Plc, the world&#39;s largest pest controller, said profit fell 12 percent in the first 10 months and will weaken further in 2005.
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The drug maker Sanofi-Aventis said its fourth-quarter profit fell 4.6 percent under pressure from European health care reforms and generic competition for its blockbuster medicines. It said earnings would be flat this year. The company, which is based in Paris, declined to comment on reports that it had discussed a merger with Bristol-Myers Squibb. Net profit at Sanofi-Aventis fell to 1.38 billion euros ($1.79 billion) in the fourth quarter from 1.44 billion euros a year earlier. Sales increased 5 percent, to 7.36 billion euros ($9.53 billion) from 7.01 billion euros.
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Drug manufacturer AstraZeneca PLC announced Friday that trials of its new lung cancer drug found it didn't help patients live longer. Its shares dropped more than 8 percent.
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LG.Philips LCD Co., the world&#39;s second-largest maker of liquid-crystal displays, posted its first profit decline in five quarters after a glut of screens drove prices lower, a survey of analysts showed.