Astrazenec has announced it will close its pharmaceuticals business by the end of 2019, as part of a restructuring plan.
The company’s annual results are due to be published in the company’s most recent quarterly report, which was published on Monday.
Astrazenech is one of the UK’s largest pharmaceuticals companies.
The plan was announced as part the Astrazenac’s £2bn financial restructuring, which will see it shut down the production of some of its drugs in 2019.
Astrolabs sales are set to fall by 15% to £2,721m in 2019 as the company looks to boost profits.
The Astrazenax is expected to sell about 100 million tablets a year, down from a peak of around 200 million.
It is also expected to see a reduction in revenue, although it is not expected to reach a significant reduction in 2020.
The news follows reports that AstraZeneca, the company that made AstraZap, is considering selling some of the Astrolab drugs.
The drug is currently being tested on primates, and is expected in trials for Parkinson’s disease, rheumatoid arthritis, diabetes, multiple sclerosis, Alzheimer’s and other conditions.
The drugs have been shown to be effective in treating many forms of the disease, and are expected to be approved for use in the coming months.
The AstraAxys share price is up 4% so far in 2018.