AstraZeneca posts double-digit profit growth in Q2

7/31/2008

LONDON AstraZeneca’s profits grew by 13 percent in the second quarter, Britain’s second largest drug company reported Thursday.

Net profit for the quarter ending June 30 was $1.62 billion, compared with $1.43 billion in the second quarter of last year. Meanwhile, revenue was $7.96 billion, a 9 percent increase over the same period last year.

AstraZeneca’s stock increased to $48.89 on the London Stock Exchange following the announcement, as the company forecast that earnings per share for the full year would be $4.60 to $4.90, an increase of 20 cents over the forecast it made in January.

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