David BurrowsPharma multi-national Astra Zeneca has reported total revenue in the year to date of $25.4bn, representing growth of 32%.
This figure included contributions from Alexion from late July 2021, following Astra Zeneca’s acquisition of the US-based immunology specialist.
Astra Zeneca said total revenue in the third quarter increased by 50% to $9.86bn – and excluding the pandemic Covid-19 vaccine, total revenue increased 21% in the year to date to $23.18bn and by 34% in the quarter to $8.81bn.
Gross profit up 14%
Astra Zeneca said year-to-date gross profit was $17.59bn, 14% up on the same period in 2020 when it hit $15.43bn.
In its trading statement, Astra Zeneca said it continued to recognise the heightened risks and uncertainties from the effects of Covid-19. “Variations in performance between quarters can be expected to continue,” the company said.
Perhaps reflecting these uncertainties, Astra Zeneca’s stock price was down 3.47% in early morning trading to 9,116.74p.
In addition to the improved figures for the year to date, the company highlighted eight positive Phase III trial results since June, with the potential to change the standard of care in several diseases.
Good pipeline delivery
Commenting on today’s third-quarter results, Astra Zeneca CEO Pascal Soriot commented: “AstraZeneca’s scientific leadership continues to provide strong revenue growth and exceptional pipeline delivery, with eight positive late-stage readouts across seven medicines since June, including our long-acting antibody combination showing promise in both prevention and treatment of Covid-19.
“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.”
He added: “Our broad portfolio of medicines and diversified geographic exposure provides a robust platform for long-term sustainable growth. Following accelerated investment in upcoming launches after positive data flow, we expect a solid finish to the year.”
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