AstraZeneca pockets $275m from Covid-19 jabs in Q1, 2021

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The pharmaceutical giant AstraZeneca announced a robust growth in profits in the first quarter of this year due to sales of the firm’s Covid-19 vaccine, Reuters reported. The jabs faced difficulties, in some countries including US due to negative side effects but still it contributed with a total of 275 million dollars in revenue. This is the first time the company 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 $224 million, emerging market sales were $43 million, and $8 million in the rest of the world, it said.

Total revenue, which includes payments from collaborations, rose 11% to $7.32 billion for the three months to March on a constant-currency basis, while core earnings stood at $1.63 cents per share, the Anglo-Swedish drugmaker said. Analysts on average were expecting core earnings of $1.48 per share on sales of $6.94 billion for the first quarter, according to a company-provided consensus of 18 analysts. "We expect the impact of Covid to reduce and anticipate performance acceleration in the second half of 2021," Chief Executive Officer Pascal Soriot said in statement.

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