India posts another global record for infections

LONDON: British pharmaceuticals giant AstraZeneca reported on Friday US$275 million (227 million euros) in sales from its Covid vaccine in the first three months of the year.

It is the first time that the company discloses figures from sales of one of the world’s leading vaccines.

AstraZeneca’s Covid-19 jab was developed with the University of Oxford and has been key in Britain’s rapid vaccination drive. The company is selling it at cost price.

However, public confidence in the jab has taken a blow over worries of links to very rare blood clots, and the company is in a legal fight with the EU over delivery shortfalls.

The company made the disclosure in an earnings statement showing that net profit doubled in the first quarter to US$1.56 billion, compared with US$780 million a year earlier.

Revenue jumped 15 per cent – or 11 per cent at constant exchange rates – to US$7.32 billion in the reporting period.

Excluding the contribution from the Covid jab, revenues rose by 11 per cent – or 7.0 per cent at constant rates – to US$7.045 billion.

AstraZeneca added Thursday that its quarterly performance was boosted by strong sales of new cancer drugs.

The firm cautioned however that the Covid pandemic had a ‘negative impact’ on both the diagnosis and treatment of other conditions aside from Covid.

“We delivered solid progress in the first quarter of 2021 and continued to advance our portfolio of life-changing medicines,” said chief executive Pascal Soriot in the earnings release.

“New medicines contributed over half of revenue and all regions delivered encouraging growth,” Soriot said. — AFP