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BUZZ-AstraZeneca: Q4 earnings underwhelm

Reuters - UK Focus

** AstraZeneca (NYSE: AZN - news) down 2.7 pct around 1-mth lows after Q4 results come in shy of expectations

** Q4 sales fell 2 pct to $6.68 bln vs analysts' forecast of $6.79 bln; core EPS, however, expected to increase by low single-digit pct this yr

** Co also agrees to buy Actavis (NYSE: ACT - news) ' branded respiratory drug business in US & Canada

** AZN most actively traded stock on FTSE 100, with almost half of its 90-day daily avg volume having gone through

** Meanwhile, Smith & Nephew (LSE: SN.L - news) inches up 0.9 pct after posting broadly in line FY numbers

** Some fund managers reckon rally in European healthcare stocks, boosted by M&A hopes - which have been somewhat dashed, particularly in UK - has run its course Chart: http://link.reuters.com/wux63w

(RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)