The British-Swedish multinational pharmaceutical and biotechnology company, AstraZeneca, has made a staggering $275 million in revenue in first quarter from its Covid-19 vaccine.
The revenue from Covid-19 Vaccine came by delivering 68 million doses Worldwide, Sales in Europe were $224 million, market sales were $43 million, and $8 million in the rest of the world.
This is the first time AstraZeneca has given its financial details from sales to distribution of its vaccine. The drugmaker also mentioned that it will not make a profit during the pandemic.
AstraZeneca delivered sturdy revenue growth of 15% (11% at CER1 ) in the quarter to $7,320m; that is excluding the contribution from the COVID-19 pandemic vaccine, revenue growth increased by 11% (7% at CER) to $7,045m.
The final results in the quarter further increased AstraZeneca’s profitability and cash generation, while the pipeline demonstrated encouraging progress; the Company reiterates full-year 2021 guidance.
The Gross Profit Margin which was reported declined by three percentage points to 74.3%, and the Core Gross Profit Margin declined by three percentage points in the quarter to 74.6%.
The performance predominantly reflected the significant impact of equitable supply, at no profit to AstraZeneca.
A higher proportion of Oncology sales and increasing patient access in China partially offsets these impacts. These variations in gross margin performance between quarters can be expected to continue.
In coming weeks, AstraZeneca said it would submit an application for U.S. emergency use.
The Chief Executive Officer of AstraZeneca, Pascal Soriot said:
“We delivered solid progress in the first quarter of 2021 and continued to advance our portfolio of life-changing medicines. Oncology grew 16% and New CVRM grew 15%. New medicines contributed over half of revenue and all regions delivered encouraging growth,”
“We expect the impact of COVID-19 to reduce and anticipate a performance acceleration in the second half of 2021.”
