AstraZeneca reports vaccine sales of $275 mln

AstraZeneca says its COVID-19 vaccine contributed $275 million to first-quarter sales, but cut a little off its earnings.

On Friday (April 30) the company posted better-than-expected results, and forecast growth in the second half.

This is the first time the Anglo-Swedish drugmaker has given financial details of the distribution and sales of its vaccine.

It developed the shot with Oxford University and has said it will not make a profit from it during the pandemic.

Vaccine revenue included delivery of about 68 million doses, giving the vaccine a price tag of around $4 per shot.

It says sales in Europe, where it faces a legal case, contributed $224 million.

The results come after a bruising start to the year as the drugmaker struggles with production issues.

It also faces a legal battle after cutting deliveries to the EU, and probes into rare blood clots in people who got the shot.

But AstraZeneca was one of the leaders in the global race to develop a vaccine.

Its cheap and easily transportable shot was hailed as a milestone in the fight against the crisis.

While the coronavirus continues to have a mixed impact on drugmakers, AstraZeneca's core business has proved resilient.

The company on Friday maintained its guidance for 2021 and predicted better times ahead.

Its shares jumped around 3.5% in early trade.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting