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Herman Saftlas Equity analyst Standard & Poor's Stock: AstraZeneca (AZN) Rating: accumulate The drug maker AstraZeneca delivered a strong rise in annual profits yesterday, but the risk of cheap generic competition to its top-selling heart treatment Toprol XL threatens to hold back earnings growth this year. When the stock was down at 18 a share [they generic nexium traded at 17. 48 on 17 March] it was because the market was discounting US sales of Nexium. According to analysts generic nexium the agreement generic nexium will cost AstraZeneca about $1bn of sales, but that the group would save by avoiding costly court cases. The float values the company at pounds 6. 6m, of which Birchin will own two thirds. AstraZeneca's shares have underperformed in the last 12 months, said WestLB's Simon Mather. We expect per-share earnings to decline 7 percent to $1.
57 this year on lower Prilosec sales and higher costs. Business News IN BRIEF --A European patent covering AstraZeneca's top-selling stomach acid drug, Nexium, has been upheld in an amended form, the European Patent Office said yesterday. Gastrointestinal drugs account for one-third of AstraZeneca's turnover, but the group is rightly proud of some of the products being developed by its other franchises. Of course, yesterday's data was largely academic. Both companies have lodged proposals to manufacture their own generic version of the generic nexium drug. Consensus forecasts are for flat quarterly earnings of $5. 7bn, but the share buyback programme means that per share earnings should rise by about 10 per generic nexium cent. Pharmaceutical analysts predict generic nexium astrazeneca will file for and receive a six-month extension in return for testing the drug's effect in children. ASTRAZENECA, THE UK's number two drug maker, is gearing up for a battle to defend patents on its leading ulcer drug, after a rival signalled it was developing a generic nexium copycat version. The group has said that due to beneficial movements in the dollar, earnings per share growth had increased by 5 cents. Spending on research and development generic nexium fell 4 per cent last year but is set to show a healthy increase this year, Mr Brennan said. More of the group's directors buying up stock.