AstraZeneca, one of the first companies which successfully produced Covid-19 vaccines recorded a full year revenue of $37.4 in 2021 where the company started to make profit from the vaccine for the first time ever.
The 2021 revenue is an increase of 38% from the previous year and the revenue from the vaccine sales alone recorded at $4 billion. AstraZeneca produces their vaccines with the support of Oxford University.
Back in November, the Ango-Swedish company had said that, they would take a ‘modest’ profit form the Covid-19 jabs. This came after an agreement with Oxford University.
Meanwhile the other vaccine makers such as Pfizer and Moderna are getting huge profits from the vaccine sales.
Despite rising revenue, AstraZeneca reported a pre-tax loss of $265 million due to costs from its purchase of U.S. drug company Alexion Pharmaceuticals and new drug research.
AstraZeneca forecast total group sales to rise by a ‘high teens percentage’ in 2022, but said COVID-19 revenues would decline by ‘a low-to-mid twenties percentage.’
“AstraZeneca continued on its strong growth trajectory in 2021, with industry-leading R&D (research and development) productivity, five of our medicines crossing new blockbuster thresholds, and the acquisition and integration of Alexion,” said CEO of AstraZeneca Pascal Soriot.