AstraZeneca said it expects sales of coronavirus drugs, including its vaccine, to fall by a low to medium 20% + during the year, but announced higher revenue in the first quarter due to previous vaccine contracts.
The Anglo-Swedish pharmaceutical giant stressed that revenues increased to 11.39 billion dollars in the first quarter from 7.32 billion dollars in the previous year.
The company said net profit for the first quarter stood at $ 386 million, down from $ 1.56 billion a year earlier.
Basic earnings per share rose to $ 1.89 in the quarter, up 16% from a year earlier, AstraZeneca said.
For 2022, the company stressed that it expects total revenue to increase by 17% -19% in 2022, while core earnings per share are expected to increase by 25% -27%.
However, the company said that given the expected drop in sales of anti-coronavirus drugs, the gross margin of these drugs would be lower than the company average.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
