{"id":23934,"date":"2021-11-12T09:19:00","date_gmt":"2021-11-12T14:19:00","guid":{"rendered":"http:\/\/irishexaminerusa.com\/wp\/?p=23934"},"modified":"2021-11-13T09:20:51","modified_gmt":"2021-11-13T14:20:51","slug":"astrazeneca-revenues-up-50-in-latest-quarter","status":"publish","type":"post","link":"https:\/\/irishexaminerusa.com\/wp\/?p=23934","title":{"rendered":"AstraZeneca Revenues Up 50% In Latest Quarter"},"content":{"rendered":"\n
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A vial of the AstraZeneca Covid-19 vaccine (PA Archive\/PA Images)<\/em><\/figcaption><\/figure>\n\n\n\n

AstraZeneca has revealed that revenues jumped by 50 per cent in the latest quarter as it was buoyed by more than $1 billion (\u20ac873 million) worth of Covid-19 vaccine sales.<\/p>\n\n\n\n

The pharmaceutical company held firm on its earnings guidance for the year as it hailed \u201cstrong revenue growth and exceptional pipeline delivery\u201d.<\/p>\n\n\n\n

It saw total revenues jump to $9.87 billion (\u20ac8.47 billion) for the quarter, with revenues for the year to date increased by 32 per cent.<\/p>\n\n\n\n

It comes after AstraZeneca, which said it will not take a profit from its coronavirus shot during the pandemic, unveiled plans to set up a separate arm for vaccines and antibody treatments which focus on Covid-19.<\/p>\n\n\n\n

The company added that limited profit from the vaccine in the next quarter will offset costs related to its antibody cocktail developed to prevent and treat Covid.<\/p>\n\n\n\n

AstraZeneca reported that product sales have risen by a third, with the trend set to continue as it announced eight positive phase three trials, including treatments for liver and prostate cancer.<\/p>\n\n\n\n

Chief executive Pascal Soriot said: \u201cAstraZeneca\u2019s scientific leadership continues to provide strong revenue growth and exceptional pipeline delivery, with eight positive late-stage readouts across seven medicines since June, including our long-acting antibody combination showing promise in both prevention and treatment of Covid-19.<\/p>\n\n\n\n

\u201cThe addition of Alexion furthers our commitment to bring transformative therapies to patients around the world, and I am proud of our colleagues\u2019 ongoing dedication and focus.<\/p>\n\n\n\n

\u201cOur broad portfolio of medicines and diversified geographic exposure provides a robust platform for long-term sustainable growth. Following accelerated investment in upcoming launches after positive data flow, we expect a solid finish to the year and our earnings guidance is unchanged.\u201d<\/p>\n

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