AstraZeneca’s Covid vaccine brought in $275 million in 2021 first-quarter revenue
In an upbeat earnings report today (April 30), Anglo-Swedish drugmaker AstraZeneca reported $275 million in revenue from its Covid-19 vaccine in the first three months of the year.
The vaccine, known as Vaxzevria, is one of four authorized for use against Covid-19 in the EU. It’s also been one of the more controversial ones: Many countries paused their rollout of the jab when it emerged that it can, in some rare cases, cause blood clots. AstraZeneca has also become embroiled in a public showdown with the EU over delayed supplies; the bloc is suing the company for alleged breach of contract. Meanwhile, the US has not approved the shot and plans to send most of its supply overseas.
Excluding the Covid-19 vaccine, AstraZeneca reported revenue of $7.3 billion. That’s 15% higher than the same time last year, or 11% at constant exchange rates, and beats analysts’ expectations. Core earnings increased 55% to $1.63 per share, and the company expects that in 2021, they will reach $4.75 to $5 a share. Executives attributed the growth to higher-than-expected sales of new medicines, especially cancer and cardiovascular drugs.
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