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Byline: Marie Beerens
AstraZeneca has been working on the right side of a 14-week base. It is also part of a saucer pattern it started in March 2004. The stock is near its 52-week high.
The U.K.-based firm develops branded prescription therapeutics to treat acid reflux, arthritis, tumors and other diseases. Sales growth has been driven by five key growth products: gastrointestinal Nexium, cardiovascular Crestor, respiratory Symbicort, oncologic Arimidex and neurologic Seroquel.
Earnings have grown 17% to 55% in the past six quarters. Sales have increased 10% to 19%. Astra spent 18% of its sales on research and development …