AZ looks to new medicines to drive growth

AstraZeneca plc (LSE:AZN; NYSE:AZN) said Thursday it will look to 10 new drugs to support a return to growth. The pharma reported 3Q18 product sales of $5.3 billion, up 9% at constant exchange rates from 3Q17 and driven by an 86% increase in new medicines and a 16% increase in emerging markets. It is the first time in three quarters that AstraZeneca reported year-over-year product sales growth at constant exchange rates; the Street was expecting 3Q18 product sales of $5.1 billion.

AZ gained 236p to 6,093p in London and $1.44 to $40.65 in New York on Thursday...