AstraZeneca profits climb, unveils French tie-up

British drugmaker AstraZeneca on Friday posted rising quarterly profits and unveiled a partnership with French biotech firm Innate Pharma, which develops antibodies for the treatment of cancer and inflammatory diseases.

Earnings after taxation rose nine percent to $550 million (508 million euros) in the three months to the end of March, compared with $504 million a year earlier, AstraZeneca said in a results statement.

Revenues meanwhile climbed by one percent at constant currencies to $6.057 billion, aided by a strong performance in China.

"Our encouraging performance in the quarter supports our full year guidance," said chief executive Pascal Soriot in the earnings release.

"Total revenue grew by 1.0 percent ... after particularly strong results in emerging markets."

Across in Paris, shares in Marseille-based Innate Pharma surged by 64.33 percent to 14.74 euros on the French stock market, following news of the AstraZeneca tie-up.