US fears knock £3bn off AstraZeneca value

Nearly £3bn (€4.2bn) was wiped off the value of pharmaceuticals giant AstraZeneca today after a US safety official raised concern over one of its key drugs.

David Graham, of the US Food and Drugs Administration (FDA), told the US Senate Finance Committee that a closer review of anti-cholesterol drug Crestor was needed amid fears that it causes acute kidney failure.