AstraZeneca Plc’s 2007 earnings were down 3 percent, the company said.
Its pretax profit was 7.98 billion dollars as sales were 12 percent up.
AstraZeneca said that market conditions remained challenging but cost-cutting would improve profits this year.
AstraZeneca PLC is a large Anglo-Swedish pharmaceutical company formed on 6 April 1999 by the merger of Swedish Astra AB and British Zeneca Group PLC.
Zeneca was part of Imperial Chemical Industries prior to a demerger in 1993. AstraZeneca develops, manufactures, and sells pharmaceuticals to treat disorders in the gastrointestinal, cardiac and vascular, neurological and psychiatric, infection, respiratory, pathological inflammation and oncology areas.