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AstraZeneca stuns in third quarter

AstraZeneca stuns in third quarter

AstraZeneca (AZN) could be turning a corner after third-quarter numbers revealed a return to sales growth, following strong demand for the group’s cancer products. Total revenues of $5.3bn (£4.04bn) exceeded consensus expectations by 1.2 per cent after product sales of $5.3bn beat consensus estimates by a further 8 per cent. Albeit down nearly a third year on year, core operating profits of $1.4bn also exceeded expectations thanks to higher operating income and lower research and development (R&D) costs.

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