Astra in recovery

ASTrAZENECA said profits will not fall as far as feared this year after a rise in sales in the third quarter.

The Cambridge-based drugs firm said revenues of £4.8bn in the three months to September were 9pc higher than the same period last year. revenues over the first nine months of the year were still down 4pc to £ 12.7bn. Business in the third quarter was boosted by a 12pc rise in sales in China as well as strong demand for heart drug Brilinta, lung cancer drug Tagrisso and ovarian cancer drug Lynparza.

Astra-Zeneca now expects profits for the year to fall by less than expected. The company’s shares dipped 0.6pc, or 32p, to 4962p.