AstraZeneca hit by generic drugs and Crestor shortfall
By Ben Hirschler LONDON (Reuters) – AstraZeneca’s sales fell by a bigger-than-expected 13 percent in the first quarter as patent expiries took a heavy toll, underscoring the turnaround challenge facing Britain’s second-largest drugmaker. Much of the damage was caused by loss of exclusivity on antipsychotic medicine Seroquel and heart drug Atacand in many markets. But the company’s top-selling cholesterol fighter Crestor was also hit by generic competition in Canada, pricing pressure in Australia and worse-than-expected sales in the United States. . . .
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