AstraZeneca boss quits after profits fall

The chief executive of AstraZeneca has quit after the company announced a sharp fall in profits.

David Brennan will stand down in June after six years in the job.

The Giant Anglo-Swedish Pharmaceutical company, which has a base in Ireland, reported profits down by 44 per cent in the first quarter.

Astrazeneca is facing declining sales as patents on several drugs Seroquel, Nexium and Crestor expire over the next few years.