EconomyMarkets

AstraZeneca forecasts 2021 growth after fourth-quarter sales beat By Reuters

© Reuters. FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the NYSE in New York

(Reuters) – AstraZeneca (NASDAQ:) on Thursday forecast 2021 revenue growth after the COVID-19 vaccine developer beat analysts’ estimates for fourth-quarter product sales, as a wide range of therapies helped cushion the hit from the pandemic.

The British drugmaker said it expects 2021 revenues to increase by a low teens percentage, with “faster growth” in core earnings to $4.75 to $5.00 per share. Quarterly product sales of $7.01 billion surpassed a company-compiled consensus of $6.81 billion.

2020 was a crucial year for AstraZeneca. It teamed up with the University of Oxford to develop a COVID-19 vaccine, and made its largest ever deal by buying U.S. drugmaker Alexion (NASDAQ:) for $39 billion as it bet on rare-disease and immunology drugs.

The London-listed company said its forecast did not include any impact from its COVID-19 vaccine, adding it intended to break out sales from the shot beginning in the first quarter this year.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button