COVID-19 vaccine maker AstraZeneca says revenue in first quarter reaches US$275 million

COVID-19 vaccine maker AstraZeneca says revenue in first quarter reaches US$275 million

FILE PHOTO: AstraZeneca coronavirus vaccination in Copenhagen
Staff member handles AstraZeneca COVID-19 vaccines in storage at Region Hovedstaden's Vaccine Center, Copenhagen, Denmark, on Feb 11, 2021. (Photo: Ritzau Scanpix/Liselotte Sabroe via REUTERS)

AstraZeneca said on Friday (Apr 30) its COVID-19 vaccine contributed US$275 million in sales and shaved off three cents per share from its first-quarter earnings, as the drug maker reported better-than-expected results and forecast sales growth.

This is the first time the drug maker has given financial details from the distribution and sales of its vaccine. It has said it will not make a profit from the shot during the pandemic.

Vaccine revenue included delivery of about 68 million doses worldwide, it said. Sales in Europe were US$224 million, emerging market sales were US$43 million, and US$8 million in the rest of the world, it said.

Total revenue, which includes payments from collaborations, rose 11 per cent to US$7.32 billion for the three months to March on a constant-currency basis, while core earnings stood at US$1.63 cents per share, the Anglo-Swedish drug maker said.

Analysts on average were expecting core earnings of US$1.48 per share on sales of US$6.94 billion for the first quarter, according to a company-provided consensus of 18 analysts.

"We expect the impact of COVID-19 to reduce and anticipate a performance acceleration in the second half of 2021," Chief Executive Officer Pascal Soriot said in a statement.

Source: Reuters/vc

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