AstraZeneca sales rise 10% in a year dominated by the coronavirus

A field containing vials of the AstraZeneca Covid-19 vaccine is pictured at the Foch hospital in Suresnes, on February 6, 2021, on the begin of a vaccination marketing campaign for well being employees with the AstraZeneca/Oxford vaccine.

Alain Jocard | AFP | Getty Images

AstraZeneca has reported a 10% rise in product sales for 2020, a year in which the drugmaker has featured prominently for its work growing a coronavirus vaccine, alongside the University of Oxford.

The Anglo-Swedish pharmaceutical big reported product sales totaling $25.eight billion for 2020. For the fourth quarter, sales rose 12% to only over $7 billion. Total income got here in at $26.6 billion for the year, and $7.four billion for the quarter.

The earnings come as the firm stays in the highlight for its coronavirus vaccine, which is being closely relied upon by the U.Okay., EU and others as they attempt to carry an finish to the public well being disaster brought on by the pandemic.

However AstraZeneca has mentioned it’s going to not revenue from the vaccine “during the pandemic,” and has pledged to make it out there on a non-profit foundation “in perpetuity” to low- and middle-income nations in the growing world.

In the outcomes report, AstraZeneca CEO Pascal Soriot mentioned the efficiency final year “marked a significant step forward for AstraZeneca. Despite the significant impact from the pandemic, we delivered double-digit revenue growth.”

“The consistent achievements in the pipeline, the accelerating performance of our business and the progress of the COVID-19 vaccine demonstrated what we can achieve,” he added.

The vaccine, developed with Oxford University, was hailed as a recreation changer, alongside the candidates from different pharmaceutical firms together with Pfizer and BioNTech, and Moderna.

Although medical trials confirmed that the Oxford/AstraZeneca vaccine had a decrease efficacy charge than its rivals, the proven fact that it is cheaper and simpler to retailer and transport has proved a boon for nations like the U.Okay. the place it has been rolled out since December. The speedy rollout of vaccines is seen as essential to the reopening of economies severely broken by lockdowns and job losses.

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