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AstraZeneca said Thursday its product sales grew by 10% in 2020, a year in which the drugmaker garnered attention for its work developing a coronavirus vaccine..
The Anglo-Swedish pharmaceutical giant reported product sales totaling $25.8 billion for the year. For the fourth quarter, sales rose 12% to just over $7 billion. The company said it was the first time in “many years” that quarterly product sales were so strong. Total revenue came in at $26.6 billion for the year, and at $7.4 billion for the fourth quarter.
CEO Pascal Soriot said last year’s performance “marked a significant step forward for AstraZeneca. Despite the significant impact from the pandemic, we delivered double-digit revenue growth.”
“The consistent achievements in the pipeline, the accelerating performance of our business and the progress of the COVID-19 vaccine demonstrated what we can achieve,” he added in a statement.
The company also kept its its full-year dividend unchanged at $2.80 per share.
AstraZeneca’s report comes as its Covid vaccine is being heavily relied upon by the U.K., European Union and other countries as they try to bring an end to the public health crisis.
The company has said it will provide access to its vaccine at no profit for the “duration of the pandemic,” although the timing is uncertain. It has also committed to provide the vaccine on a nonprofit basis in perpetuity to low and middle-income countries. As such, its current earnings did not include vaccine sales.
AstraZeneca, which is listed on the London Stock Exchange, said it expects revenue growth of a “low-teens percentage” in 2021. The company also forecast “core” earnings per share to range from $4.75 to $5. The guidance does not incorporate any revenue or profit impact from sales of the Covid vaccine, AstraZeneca said. The company intends to report these sales separately starting in the next quarter.
London- and U.S.-listed shares of the company were little changed Thursday.
The Anglo-Swedish pharmaceutical giant reported product sales totaling $25.8 billion for the year. For the fourth quarter, sales rose 12% to just over $7 billion. The company said it was the first time in “many years” that quarterly product sales were so strong. Total revenue came in at $26.6 billion for the year, and at $7.4 billion for the fourth quarter.
CEO Pascal Soriot said last year’s performance “marked a significant step forward for AstraZeneca. Despite the significant impact from the pandemic, we delivered double-digit revenue growth.”
“The consistent achievements in the pipeline, the accelerating performance of our business and the progress of the COVID-19 vaccine demonstrated what we can achieve,” he added in a statement.
The company also kept its its full-year dividend unchanged at $2.80 per share.
AstraZeneca’s report comes as its Covid vaccine is being heavily relied upon by the U.K., European Union and other countries as they try to bring an end to the public health crisis.
The company has said it will provide access to its vaccine at no profit for the “duration of the pandemic,” although the timing is uncertain. It has also committed to provide the vaccine on a nonprofit basis in perpetuity to low and middle-income countries. As such, its current earnings did not include vaccine sales.
AstraZeneca, which is listed on the London Stock Exchange, said it expects revenue growth of a “low-teens percentage” in 2021. The company also forecast “core” earnings per share to range from $4.75 to $5. The guidance does not incorporate any revenue or profit impact from sales of the Covid vaccine, AstraZeneca said. The company intends to report these sales separately starting in the next quarter.
London- and U.S.-listed shares of the company were little changed Thursday.
