AstraZeneca expects revenue to growFebruary 11, 2021
AstraZeneca on Thursday said it expects its 2021 revenue to grow after its COVID-19 vaccine success topped previous estimates for fourth-quarter sales.
The UK-based world-known drugmaker’s CEO Pascal Soriot, commenting on the results said that the performance last year marked a significant step forward for AstraZeneca. He said that despite the significant impact from the pandemic, the company has delivered double-digit revenue growth to leverage improved profitability and cash generation.
Soriot expressed confidence in accelerating performance and consistent delivery of pipeline. He noted that the proposed acquisition of Alexion will further accelerate commercial and scientific development in immunology and precision medicines.
“The consistent achievements in the pipeline, the accelerating performance of our business and the progress of the COVID-19 vaccine demonstrated what we can achieve, while the proposed acquisition of Alexion is intended to accelerate our scientific and commercial evolution even further.“
He said that additional investment in new medicines continued to fuel AstraZeneca’s rapidly growing oncology and biopharmaceuticals therapy areas. He said that Tagrisso’s future was enhanced with its first regulatory approval in early, potentially-curable lung cancer and further national reimbursement in China in advanced disease. Furthermore, Soriot said that Farxiga again expanded its potential beyond diabetes, while tezepelumab promised real hope for patients suffering from severe asthma.
“Thanks to the focus on an industry-leading pipeline and consistent execution, I am confident that we will continue to deliver more progress for patients and sustained, compelling results.”
AstraZeneca said that its prognosis is without the effect from its COVID-19 vaccine, noting that it plans to flare up sales from the vaccine starting in the Q1 of 2021.
Check out a short presentation by the CEO Pascal Soriot.