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AZ reports strong China growth in earnings

November 9, 2017 11:32 PM UTC

In its 3Q17 earnings, AstraZeneca plc (LSE:AZN; NYSE:AZN) reported strong growth in the China market despite overall declining product sales. In China, sales were $723 million for the quarter, a 14% increase at constant exchange rates from the prior year, accounting for 15% of AZ's global sales. The pharma reported $4.9 billion in product sales for the quarter, a 2% decrease at constant exchange rates.

In its earnings, AZ said that China added five of the pharma's drugs -- Onglyza saxagliptin for diabetes, cancer drugs Iressa gefitinib and Faslodex fulvestrant, cardiovascular drug Brilinta ticagrelor and antipsychotic drug Seroquel XR quetiapine fumarate extended release -- to the country's National Reimbursement Drug List (NRDL). ...

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