AstraZeneca: Covid vaccine weighs on net profit

Posted on Apr 30, 2021, 11:51 AMUpdated on Apr 30, 2021, 12:07 PM

AstraZeneca sold $ 275 million worth of Covid-19 vaccine in the first quarter. The British laboratory has sold some 300 million doses in 165 countries. He devolved Friday, for the first time, the impact of the product on his accounts. The group’s total turnover is up 15% for the period January to March, to 7.3 billion dollars.

The vaccine still only represents 4% of sales. AstraZeneca derives most of its revenues from drugs against respiratory diseases (Symbicort against asthma), cardiovascular (Farxiga against diabetes) and oncology (Tagrissso against bronchial cancer). Operating profit rose 55% to 1.9 billion.

Less diagnosed pathologies

Despite being one of the leading manufacturers of coronavirus vaccines, AstraZeneca is not benefiting from the pandemic just yet. First, because he says he sells his serum at cost price. In the first quarter, vaccine sales slightly reduced net income (to the tune of 3 cents per share out of a total of $ 1.63).

Then because the health crisis has penalized the detection and treatment of pathologies which make the fortune of the pharmaceutical industry. The pandemic has “a negative impact on the diagnosis and treatment of many diseases,” explained the boss, Pascal Soriot.

The results for the first quarter are nevertheless better than expected. At the end of the morning, the title rose more than 3% on the London Stock Exchange. “The heart of the activity continues to show performance above market expectations in a particularly difficult quarter,” note Citi analysts.

AstraZeneca has confirmed that it is seeking approval for its vaccine from health authorities in the United States, although the country is considering doing without it.

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