AZ cutting costs, boosting oncology investment

In its 1Q16 earnings report Friday, AstraZeneca plc (NYSE:AZN; LSE:AZN) said it would reduce core SG&A expenses to support continued investment in oncology. AZ estimated $1.1 billion in savings from unspecified cuts, primarily in commercial and manufacturing units, which would allow it to boost investment in oncology.

The company reported EPS of $0.51 on $6.1 billion in total revenue, topping analysts' consensus of $0.49 per share on $6 billion in revenue. ...