AstraZeneca posts soaring profits on asset sale
Anglo-Swedish pharmaceuticals giant AstraZeneca on Thursday said net profits soared 124 percent to $3.48 billion (2.48 billion euros) in the third quarter after the group sold its dental division.
The result for the three months to September 30 compared with earnings after tax of $1.55 billion in the third quarter of 2010.
AstraZeneca had in June announced the sale of its Astra Tech unit to US dental implant manufacturer Dentsply International for $1.8 billion.
The cash deal supports the London-listed drugmaker's strategy of focusing on medicine development and increasing returns for shareholders.
© 2011 AFP