(Reuters). Despite a slight decline in COVID-19 vaccination sales, Friday’s results from AstraZeneca outperformed all expectations. The company maintained its projections for 2022 and added that newer treatments for rare and severe kidney diseases have offset the expected drop in COVID-19 revenue.

Although it expects that sales of Evusheld’s antibody-based COVID-19 treatment will grow, this decline in sales of the vaccine, which was developed in collaboration with Oxford University, amid increasing competition and concerns over its shelf life, as well as vaccine hesitancy, is more significant.

Sales of the vaccine reached $1.15 Billion in quarter one. Most of this was from initial contracts. While sales for the antibody treatment were $469 M,

AstraZeneca (NASDAQ) was the second-best-selling product of 2021, selling $3.9 Billion.

AstraZeneca’s overall revenue increased 60% to $11.39 Billion for the three-months ended March 31, on a constant currency basis.

Strong sales of Farxiga, a product for diabetes and kidneys and the vaccine helped to boost core earnings to $1.89 per share.

According to Refinitiv IBES data, analysts were expecting a profit of $1.70 per Share on revenues of $10.85 trillion.

Sales of the top three drugs for cancer – Tagrisso and Imfinzi – fell short of consensus.

While COVID-19 is beginning to decline, cancer treatment and diagnosis has not returned to pre-pandemic levels.