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The company said it planned to extend the portfolio beyond the initial 18 products, but gave no time frame. Shore Capital noted that while AstraZeneca was slower to capitalize on opportunities in emerging markets than some of its peers, it now generates around 13 percent of annual revenue there. The company is looking to increase that to 25 percent by 2014. Patents on seven of its drugs will expire in the next four years, including its three best sellers
-- ulcer treatment Nexium, anti-pyschotic Seroquel and anti-cholesterol drug Crestor. AstraZeneca last month announced plans to ax 8,000 more jobs, or 12 percent of its work force, by 2014 to cut costs after disappointing fourth quarter earnings. The company's shares were down 0.5 percent at 2,934.5 pence ($44.14) on an overall lower London Stock Exchange.
[Associated
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