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AstraZeneca Reports Sales of $ 275 Million COVID-19 Vaccine

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AstraZeneca Reports Sales of $ 275 Million COVID-19 Vaccine

This is the first time the Anglo-Swedish drugmaker has given financial details of the distribution and sale of its vaccine, which is developed with the University of Oxford.

AstraZeneca said its COVID-19 vaccine contributed $ 275 million in sales in the first quarter and three cents per share from its earnings, as it posted better-than-expected results and forecast growth in the second half. This is the first time the Anglo-Swedish drugmaker has given financial details of the distribution and sale of its vaccine, which it has developed with the University of Oxford. It has stated that it will not profit from the shot during the epidemic.

Vaccine revenue included delivery of approximately 68 million doses, AstraZeneca said on Friday, adding that sales in Europe, where it is a legal case, were $ 224 million, $ 43 million in emerging markets, and $ 8 million in the rest of the world. Were. Sales of $ 275 million for a 68 million dose equals a price tag of about $ 4 per shot.

The results come after the start of the year as the drugmaker struggles with its vaccine production and faces a legal battle after cutting deliveries in Europe, while regulators examine rare blood clots in people who get shot. AstraZeneca was one of the leading leaders in the global race to develop the COVID-19 vaccine. Its cheap and easily transportable shot was reputed as a milestone in the fight against the crisis but has since faced many controversies.

In presentation slides published ahead of the media call, AstraZeneca stated that it was boosting vaccine supplies with improvements in production yields, without providing details. AstraZeneca said it would submit an application for US emergency use in the coming weeks, adding late-stage global data and real-world emerging data following the roll-out. Vaccine efficacy data were also questioned in the past.

While coronaviruses continue to have a mixed effect on drug manufacturers, AstraZeneca’s core business has proved to be resilient. The company on Friday maintained its guidance for 2021 and predicted better times ahead. However, the guidance does not include any impact from the sale of the vaccine and the $ 39 billion purchase of Alexion, which is expected to close in the third quarter.

“We expect the impact of COVID to reduce and anticipate a performance acceleration in the second half of 2021,” Chief Executive Pascal Soriot said in the statement. Quarterly sales were up 17% to 1.15 billion driven by Tagriso, the best-selling lung cancer drug, while revenue from the heart and diabetes drug Farxiga jumped by more than half, from $ 625 million in hopes of better treatment. Overturned, failure on new prescriptions for the treatment of heart.

Total revenue of $ 7.32 billion for the three months from March to March surpassed analysts’ expectations of $ 6.94 billion, while core income of $ 1.63 cents per share was also ahead of the consensus of $ 1.48 per share.

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