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Feb
02

AstraZeneca profits down due to loss of key patents in US

AstraZeneca profits down due to loss of key patents in USBritish pharmaceuticals group AstraZeneca said Friday that net profits slid in 2017, as it continued to be hit by the loss of exclusivity on key blockbuster drugs in the United States. Profits after taxation sank 14 percent to $3.0 billion (2.4 billion euros) last year, AstraZeneca announced in a statement. AstraZeneca has been hard hit since 2016 by the loss of its patents in the US on its cholesterol-lowering drug Crestor and schizophrenia treatment Seroquel.