AstraZeneca sales jumped 50% in the third quarter, whilst revenues were up 50% this quarter and 32% over the whole year.
The Covid-19 vaccine is now expected to become profitable. The group has sold 2.2 billion vaccines since the year started.
“AstraZeneca’s 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,” said Pascal Soriot, the chief executive officer.
“The addition of Alexion furthers our commitment to bring transformative therapies to patients around the world, and I am proud of our colleagues’ ongoing dedication and focus.”
Following the results, shares in the group were down 2.62% (0913GMT).
“AstraZeneca’s earnings reflect an impressive quarter for big pharma, but a wealth of growth drivers sets this company apart,” said Sebastian Skeet, Senior Analyst for healthcare sector clients at Third Bridge.
“Q3 2021 has seen a number of the big pharma cohort beat analyst estimates and raise Q3 guidance. This morning AstraZeneca did neither, missing analyst EPS estimates and maintaining guidance, despite reporting higher than expected product sales growth, at 32% CER excluding the vaccine, and 15% growth in core EPS. On a reported basis, AstraZeneca posted a loss, although this was mainly driven by the necessary investments to support the burgeoning pipeline.”
“AstraZeneca’s top-line beat was impressive, and in the context of continued vaccine rollouts, booster doses and the impressive data from Merck’s and Pfizer’s antiviral pills, perhaps this points to a normalisation of the market environment.”