AstraZeneca studies COVID vaccine gross sales of $275 million, expects hit to ease By Reuters
© Reuters. Exterior shots of AstraZeneca’s North American headquarters
From Pushkala Aripaka and Ludwig Burger
(Reuters) – AstraZeneca (NASDAQ 🙂 announced that its COVID-19 vaccine contributed $ 275 million to sales in the first quarter and saved three cents a share from earnings as it performed better than expected and for forecast growth in the second half of the year.
This is the first time the Anglo-Swedish drug company has disclosed financial details for the distribution and sale of its vaccine, which it developed with Oxford University. It has said it will not make a profit on the shot during the pandemic.
The vaccine revenue included the delivery of approximately 68 million doses, AstraZeneca said Friday, adding that sales were $ 224 million in Europe, where the litigation is concerned, $ 43 million in emerging markets and $ 43 million in the United States rest of the world $ 8 million.
Sales of $ 275 million for 68 million cans equates to a price of around $ 4 per shot.
The results come after a bruise start in the year when the drug maker struggles to produce its vaccine and faces a lawsuit after cutting shipments to Europe while regulators investigate rare blood clots in people who received the shot .
AstraZeneca was a global leader in the development of a COVID-19 vaccine. Its cheap and easily transportable shot was hailed as a milestone in the fight against the crisis, but has been subject to a number of controversies since then.
In presentation slides released ahead of a media call, AstraZeneca said vaccine supplies would ramp up with improved production yields without giving details.
AstraZeneca announced that it will be filing an application in the coming weeks for deployment in the US that will add global data from late and emerging real-world data after a roll-out. The vaccine efficacy data have also been questioned in the past.
While the coronavirus continues to have mixed effects on drug manufacturers, AstraZeneca’s core business has proven resilient.
The company maintained its forecast for 2021 on Friday, predicting better times.
However, the guidelines do not include any impact from the sale of the vaccine and the $ 39 billion purchase of Alexion (NASDAQ :), which is expected to close in the third quarter.
“We expect the effects of COVID to diminish in the second half of 2021 and an acceleration in performance can be expected,” said Pascal Soriot, chief executive, in a statement.
The quarterly sales growth was driven by the best-selling lung cancer drug Tagrisso, which rose 17% to $ 1.15 billion, while sales of the heart and diabetes drug Farxiga were more than half better than expected due to new recipes for treating the heart $ 625 million rose in error.
Total revenue of $ 7.32 billion for the three months to March exceeded analysts’ expectations of $ 6.94 billion, while core earnings of $ 1.63 per share were also above a consensus of 1.48 US dollars per share.
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