AstraZeneca raised its 2014 sales forecast for the second quarter in a row on Thursday, as the delayed arrival of generic copies of its Nexium drug in the United States kept cash flowing from the heartburn and ulcer pill. Britain's second biggest drugmaker, which saw off a $118 billion takeover bid from Pfizer in May, now expects revenue to grow in low single digits at constant exchange rates this year, after previously being seen flat. The upgrade follows a better-than-expected sales performance in the third quarter, helped by the Nexium factor. Chief Executive Pascal Soriot, who has fought hard to prove AstraZeneca has a strong independent future and does not need the kind of mega-merger offered by Pfizer, said he would use the better financial outlook to accelerate investment in new drugs.
via Business News http://ift.tt/1uzNSHr
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