AstraZeneca Pays $185M Upfront, Drops Phase 2 Sickle Cell Drug, Reports Strong Q3 Profits

AstraZeneca has made significant moves in the pharmaceutical industry. The company paid $185M upfront to reenter the oral obesity market and dropped a phase 2 sickle cell drug. AstraZeneca's CEO, Pascal Soriot, mentioned having products in the pipeline, particularly in oncology. The company's strong sales of cancer treatments and demand in emerging markets have boosted its profit outlook. AstraZeneca reported core profit per share of $1.73 for the third quarter, ahead of analyst expectations, driven by strong demand for its cancer drugs.