Desk Report
Publish: 14 Nov 2021, 09:17 pm
AstraZeneca Vaccine || Photo: Collected
British pharmaceutical giant
AstraZeneca, which is selling its Covid vaccine at cost price, said Friday that
it had fallen into a loss in the third quarter.
The company posted a net loss
of $1.65 billion (1.44 billion euros) compared with a profit after tax of
around $650 million in the third quarter last year, a statement said.
AstraZeneca said it experienced
higher costs in the latest July-September period following its mega takeover of
US biotech company Alexion, as well as increased research and development
expenses across multiple programmes, including its Covid treatments, reports AFP.
The group added that revenue
from its Covid vaccine totalled $2.22 billion in the year to date following
delivery of around 580 million doses worldwide.
AstraZeneca's vaccine against
the coronavirus pandemic was developed with the University of Oxford.
Last month, the drugs company
revealed positive results from a trial of a treatment for Covid-19 symptoms.
Made from a combination of two
antibodies, the AZD7442 treatment had been undergoing final clinical trials to
assess its safety and efficacy.
"AstraZeneca's scientific
leadership continues to provide strong revenue growth and exceptional pipeline
delivery... including our long-acting antibody combination showing promise in both
prevention and treatment of Covid-19," chief executive Pascal Soriot said
in Friday's statement.
"The addition of Alexion
furthers our commitment to bring transformative therapies to patients around
the world, and I am proud of our colleagues' ongoing dedication and
focus."
AstraZeneca added that group
revenue soared 50 percent in the third quarter to almost $9.9 billion.
The group completed its
$39-billion takeover of Alexion earlier this year.
Since taking the helm at
AstraZeneca in 2012, Soriot has pushed the group into lucrative treatments such
as cancer therapies, and the Alexion takeover gives it more heft in areas such
as treating blood disorders.
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Topic : AstraZeneca Vaccine
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