AstraZeneca stated that Vaxzevria’s loss was the main factor leading to a 7 percentage point drop in its reported gross profit margin, which fell to 73.5% in the first half of this year.
July 30, 2021
3 minute reading
This story originally appeared in Epoch Times
AstraZeneca, Promise to provide its Coronavirus disease vaccine No profit during this period Pandemic, Said on Thursday that its vaccine losses in the first half of the year reduced the pharmaceutical giant’s earnings per share by 4 cents.
Sales of the company’s COVID-19 vaccine Vaxzevria generated 1.17 billion U.S. dollars in revenue in the first six months of this year, of which revenue in the second quarter was 894 million U.S. dollars. AstraZeneca’s earnings, Released on July 29.
However, although these revenues have reduced AstraZeneca’s non-profit provision of the COVID-19 vaccine, the company said that Vaxzevria’s loss was the main factor that caused its reported gross profit margin to drop by 7 percentage points, which was higher It dropped to 73.5% in half a year.
AstraZeneca said in the report: “This performance mainly reflects the significant impact of the equitable supply of pandemic COVID-19 vaccines. AstraZeneca has no profit and the impact of profit-sharing arrangements is increasing.”
AstraZeneca said that Vaxzevria’s loss reduced its earnings per share by 3 cents in the first quarter and 1 cent in the second quarter. According to the analysis of the Wall Street Journal, AstraZeneca lost US$40 million in the first quarter due to the COVID-19 vaccine and US$13 million in the second quarter.
The company reported a net profit of US$550 million in the second quarter, which was lower than Factset’s consensus estimate of US$1.19 billion. AstraZeneca’s net profit for the second quarter of 2020 was US$756 million.
At the same time, net profit in the first half of 2021 was US$2.1 billion, an increase of 42% from the US$1.5 billion in the first half of last year.
“Thanks to its strong performance in all regions and disease areas, AstraZeneca has achieved another period of strong growth,” said Pascal Soriot, CEO of AstraZeneca. In the statement Comment on the results.
On Thursday, AstraZeneca said it intends to seek US approval for its COVID-19 vaccine later this year. The Anglo-Swiss drugmaker said that the application has been delayed because the company decided to require the Food and Drug Administration (FDA) to obtain full regulatory approval instead of a fast-track emergency use authorization.
One of the problems that AstraZeneca must solve is reports that the vaccine may be related to rare blood clots, which has led some countries to restrict its use in young people.
AstraZeneca advertises its relatively cheap and easy-to-operate vaccine as a “vaccine for the world” and has been authorized by more than 170 countries. The company stated that it provided about 90% of the doses distributed by COVAX facilities to low- and middle-income countries in the first half of this year.
After Pfizer’s announcement on Wednesday, AstraZeneca is the second drugmaker to say it has delivered more than 1 billion doses of the COVID-19 vaccine globally.
The Associated Press contributed to this report.
Follow Tom on Twitter: @OZImekTOM