AstraZeneca Pharma India tanks on quarterly profit drop

Astrazeneca Pharma India

09/02/2024 05:56

** Shares of AstraZeneca Pharma India  ASTR.NS  fall as much
as 15.1% to 5,575 rupees, and last down ~14.5%
    ** Drugmaker posted a 46% drop in Dec-qtr profit after tax
    ** Stock on track for third straight session of decline,
with day's loss sending it below 50-day avg of 5,640.99 rupees -
LSEG
    ** Its parent firm AstraZeneca  AZN.L  said on Thursday it
expected to boost 2024 revenue and profit, though
weaker-than-expected Q4 results sent its shares down more than
5%  urn:newsml:reuters.com:*:nL4N3ET1PH
    ** Trading volume nearly 5x the 30-day moving average
    ** Stock rose 68% in 2023, its second straight year of gain 
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))