- AstraZeneca first half revenue increased by 23%, ex-vaccine revenue increased 14% to $14.371 billion.
- Financial results for Alexion Pharmaceuticals excluded from report
- Guidance updated to reflect Alexion acquisition
Second-quarter sales of AstraZeneca's (AZN.L) COVID-19 vaccine more than tripled to $894 million from the first quarter, but the drugmaker on Thursday again delayed its U.S. application for approval as it gathers more data for submissions.
"Revenue from AstraZeneca’s vaccine against Covid-19 was $1.169 billion in the first but with the company currently selling it at ‘cost’. Development expenses from the vaccine led to a $0.04 impact on EPS," said Samuel Indyk, analyst at uk.Investing.com
"Reported and core R&D expense increased in the half by 28% and by 27%, respectively, primarily reflecting continued investment in its Covid vaccine and potential new medicines to prevent and treat the virus," Indyk continued. "Revenue from its vaccine was below rival vaccine maker Pfizer and that could be set to continue for the foreseeable. Not only has AstraZeneca agreed to sell its vaccine at a lower cost but its ongoing legal battle with the EU has seen the bloc shun an order for further doses next year.
"Booster shots may be required for the most vulnerable which AstraZeneca may miss out on due to the vaccine’s reputation compared to shots from Moderna, Johnson & Johnson and Pfizer.
"Separately, as the developed adult population gets vaccinated, attention will turn to vaccinating the young and safety concerns surrounding AstraZeneca’s vaccine in the younger population might see another avenue closed for the drugmaker."