Astra goes downhill as Crestor run ends

ASTRAZENECA today said the loss of exclusive rights to sell cholesterol treatment drug Crestor and restructuring costs dented half-year sales. Revenues fell 5% to $11.7 billion (£914 million) for the six months ending June. Pre-tax profits fell from $1.2 billion to $594 million. The drug company is seeking take out $1.1 billion of costs annually from the business.