Drugmaker Astrazeneca has warned that sales growth and profits will be knocked this year by the coronavirus outbreak in China, one of its biggest markets.
The FTSE 100 company said sales will rise by a high single-digit or low double-digit percentage in 2020. Earnings per share, the company’s preferred measure of profit, is predicted to grow by 15pc to 19pc.The epidemic and subsequent lockdown in China has hampered plans by Astra boss Pascal Soriot to pursue growth in the country, where the company is investing heavily in research and development for new drugs to provide an alternative to traditional Chinese medicine.
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