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AstraZeneca vaccine turns profitable in Q3, drugmaker banking on new orders -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A company logo can be seen on the AstraZeneca website in Macclesfield (Britain), May 11, 2021. REUTERS/Phil Noble

(Reuters] – AstraZeneca, NASDAQ:),’s COVID-19 vaccine added one cent per share to third quarter earnings. It expects that the shot will move towards “modest profitability” with new orders. Friday’s $1.05 Billion sales figures by the drugmaker have led to the company posting $1.05 Billion in revenue for the period.

Anglo-Swedish firm, which said it would not profit from the vaccine during pandemics, announced this week plans to create a new division to provide antibodies and vaccines to help the company’s coronavirus research.

AstraZeneca stated that the relatively small profit it made from vaccine sales in the fourth quarter was sufficient to cover costs associated with the antibody mix for COVID-19 prevention and treatment. However, the company did not alter its year-end forecasts.

According to the company, total revenue rose 47% to $9.74Billion in the three months ended September. However, core earnings came in at $1.08 a share.

Based on Refinitiv IBES data, analyst profits were on the order of $1.28 per share for $9.4billion in sales.

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