A box containing vials of the AstraZeneca Covid-19 vaccine is shown at Foch Hospital in Suresnes on February 6, 2021, at the start of a vaccination campaign for health workers with the AstraZeneca / Oxford vaccine.
Alain Jocard | AFP | Getty Images
AstraZeneca has reported a 10% increase in product sales by 2020, a year in which the drug maker has stood out for its work in developing a coronavirus vaccine, alongside Oxford University.
The Anglo-Swedish pharmaceutical giant recorded sales of products that totaled $ 25.8 billion in 2020. For the fourth quarter, sales rose 12% to over $ 7 billion, the first time during “many years “the company has exceeded this figure. Total revenue was $ 26.6 billion in the year and $ 7.4 billion in the fourth quarter.
The company’s profits come as the company remains the focus for the coronavirus vaccine, which the UK, EU and others rely heavily on in an attempt to end the public health crisis. caused by the pandemic.
AstraZeneca has said it will provide access to its vaccine without any benefit for the “duration of the pandemic,” although the timing of it is uncertain. It is also committed to providing the non-profit vaccine in perpetuity to low- and middle-income countries. As such, their current earnings did not include vaccine sales.
The company’s guidelines, which are listed on the London Stock Exchange, indicated a year in advance that they expected revenue growth of a “low percentage of adolescents” in 2021 and faster growth in core earnings per share, from $ 4.75 to $ 5.00.
The guide does not incorporate any impact on revenue or profits from Covid-19 vaccine sales, he said, and the company intends to report those sales separately starting next quarter.
In the results report, AstraZeneca CEO Pascal Soriot said that last year’s performance “was an important step forward for AstraZeneca. Despite the significant impact of the pandemic, we generated a double-digit revenue growth “.
“The ongoing successes underway, the acceleration of our business and the progress of the COVID-19 vaccine have demonstrated what we can achieve,” he added.
The company said its full-year dividend will remain unchanged at $ 2.80 per share.
Some controversy
The AstraZeneca vaccine, developed with Oxford University, was hailed as a game changer, alongside candidates from other pharmaceutical companies such as Pfizer and BioNTech, and Moderna.
Although clinical trials have shown that the Oxford / AstraZeneca vaccine has a lower efficacy rate than its rivals, the fact that it is cheaper and easier to store and transport has proven to be a great help for countries such as the United Kingdom where it has been established since January. The rapid deployment of vaccines is considered crucial for the reopening of economies severely damaged by blockages and job losses.
However, the company has faced some controversy over its vaccine.
Some drug regulators in Europe have said they will not recommend the vaccine to people over 65, the target age group as the releases come together, due to an alleged lack of data to prove its effectiveness in this. age group.
Meanwhile, South Africa suspended, and then abandoned, using the vaccine in its deployment amid concern that it had limited effectiveness against a variant of the virus that has appeared there.
However, independent experts who advised the World Health Organization on vaccination on Wednesday recommended the use of the AstraZeneca vaccine, even in countries where there are variants.
Prior to the trial, the results of end-stage clinical trials that revealed a higher rate of efficacy after a dosing error raised eyebrows among experts, as well as questions about the results and dosing regimen. recommended (such as a two-dose shot).
AstraZeneca also got into hot water with the EU when it said it would not deliver as many vaccines as expected on the block in the spring, and blamed teething problems at its production plants in Belgium and the Netherlands.