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AstraZeneca drags down FTSE 100

Drugmaker AstraZeneca has seen its share price plummet more than 15% after announcing disappointing results.

The firm said first-quarter revenue fell 10% to $5.05bn (£3.84bn).

It also reported a major setback in trials of a new lung cancer drug therapy.

The company was by far the biggest loser on the benchmark FTSE 100 share index, which was down 5.99 points, or 0.08%, to 7,446.33 in early Thursday trading.

In the currency market, the pound edged higher against the dollar, up 0.12% at $1.3138. Against the euro, the pound was 0.29% higher at 1.1204 euros.

Source: business

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