AstraZeneca has announced solid first-quarter results

Pharmaceutical

As sales of its COVID-19 vaccine has taken off, AstraZeneca has announced solid first-quarter results.

AstraZeneca observed an increase in product sales of fifteen per cent to seven and a quarter billion dollars, with core earnings share leaping by fifty-five per cent to one dollar and sixty-three cents.

“AstraZeneca has announced solid first-quarter results.“

New medicines represented fifty-three per cent of total revenue globally, in comparison to forty-seven per cent in the identical time in 2020.

In addition, growth for its oncology drugs grew by twenty per cent to three billion dollars. In contrast, its cardiovascular, renal and metabolism products grew by nineteen per cent to above one billion dollars.

AstraZeneca announced an upsurge in emerging market sales of fourteen per cent, with China growth of nineteen per cent and total revenue in Europe by twenty-eight per cent and in the US by ten per cent.

AstraZeneca restated that it is on target to achieve two-hundred million doses per month from April, while sales of its Oxford University partnered COVID-19 vaccine amounted to two-hundred and seventy-five million dollars in the first quarter.

Chief Executive of AstraZeneca, Pascal Soriot, stated: “Given the performance in the first quarter, in line with our expectations, we reiterate our full-year guidance. We expect the impact of COVID-19 to reduce and anticipate a performance acceleration in the 2nd half of 2021. Sustained pipeline progress and accelerating business performance underlines our commitment to patients and delivering our growth potential - which will be further complemented by the proposed acquisition of Alexion.”

Edison Group’s director of research, Neil Shah, stated: “With worldwide inoculations likely to accelerate over the next few months, signs for AstraZeneca are positive. As the impact of the pandemic begins to dissipate, the company anticipates an acceleration of performance for the second half of 2021. Having delivered one of the most important vaccines in human history, it is no surprise that the company has delivered such a solid set of results. In addition, with non-COVID medication making up a significant portion of this growth, the company is well-positioned for a high-growth year as 2021 continues.”

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