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AstraZeneca Q3 sales weak as it waits for medicine to work

AstraZeneca Q3 sales weak as it waits for medicine to work
From Reuters - November 8, 2017

LONDON (Reuters) - AstraZenecas (AZN.L) drug sales fell 3 percent in the third quarter, hit again by generic competition to former blockbusters like cholesterol pill Crestor, as it looks to new cancer treatments to revive its fortunes.

Total revenue, however, rose 9 percent to $6.23 billion, helped by a $997 million payment from Merck & Co (MRK.N), which struck a cancer drug partnership deal with the British group in July.

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