AstraZeneca said on Thursday it had agreed to buy Actavis' branded respiratory drug business in the United States and Canada for an initial $600 million as it reported weak fourth-quarter earnings. AstraZeneca, which is seeking external deals to ensure growth, will also pay another $100 million after Actavis agreed to a number of changes to ongoing collaborations between the two firms. Adjusted or "core" earnings per share, however, are forecast to increase by a low single-digit percent this year. Citi analyst Andrew Baum said AstraZeneca appeared to have "kitchen-sinked" the quarter, or taken a deliberate hit to earnings by increasing drug development costs sharply in the period.
via Health News Headlines - Yahoo News http://ift.tt/1zQ0rAe
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