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AstraZeneca Q1 net profit plunges 31 percent, drug maker gets Massachusetts subpoena

LONDON — AstraZeneca PLC, a British drug maker with a presence in Massachusetts, said first-quarter profits fell 31 percent.

The company, which is facing generic competition, also announced Thursday that it has received a subpoena from legal authorities in Massachusetts.

Net profit for the three months to March 31 was $1.01 billion, down from $1.63 billion a year earlier.

Revenue was 13 percent lower at $6.39 billion. The company said generic competition for bipolar medication Seroquel IR, hypertension drug Atacand, and cholesterol drug Crestor drove revenue down.

The company said it received a subpoena March 28 from the US attorney’s office in Boston seeking documents relating to standards at its facility in Macclesfield, northwest England. It did not give further details.

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AstraZeneca shares fell 1.8 percent to 33.28 pounds on the London Stock Exchange.

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