LONDON, July 28 — AstraZeneca today delivered better-than-expected profits and sales in the second quarter as a strong performance of its blockbuster cancer drugs helped offset the loss of Covid-19 vaccine sales.
The Anglo-Swedish drugmaker posted an adjusted profit of US$2.15 per share, up 25 per cent and exceeding the US$1.98 per share expected in company-compiled consensus estimates.
Total revenue in the quarter was US$11.4 billion, up 6 per cent and beating company-compiled analyst estimates of US$10.97 billion.
The company registered no sales of its Covid-19 vaccine, which was its best-selling product in 2021 at the height of the pandemic, compared with US$445 million in the second quarter of last year as the company has lost out to rival mRNA shots.
“Each of our non-Covid-19 therapy areas saw double-digit revenue growth, with eight medicines delivering more than US$1 billion of revenue in the first half, demonstrating the strength of our business,” Chief Executive Pascal Soriot said.
AstraZeneca — the UK’s biggest company by market capitalisation worth more than £165 billion (US$211.10 billion) — stood by its 2023 outlook. — Reuters