AstraZeneca quarterly profit plunges 32%

British

pharmaceuticals giant AstraZeneca yesterday said third-quarter net profits tumbled by about a third as a large exceptional gain was not repeated. Earnings after taxation dived 32 per cent to $686 million (Dh2.5 billion, €592 million) in the three months to September 30, AstraZeneca said in a results statement.

That compared with net profit of $1.01 billion for the same part of the previous year, when the group had enjoyed a large one-off tax gain. AstraZeneca was boosted in 2016 by an exceptional tax benefit of $453 million. (AFP)