London: British pharmaceuticals giant AstraZeneca on Thursday said third-quarter net profits tumbled by about a third as a large exceptional gain was not repeated. Earnings after taxation dived 32 per cent to $686 million (592 million euros) in the three months to September 30, AstraZeneca said in a results statement.
That compared with net profit of $1.01 billion for the same part of the previous year, when the group had enjoyed a large one-off tax gain. AstraZeneca was boosted in 2016 by an exceptional tax benefit of $453 million following agreements on transfer pricing arrangements with British, Canadian and Swedish tax authorities for the period 2004-2016. — AFP
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