AstraZeneca Profits Soar On Cancer Drugs, Alexion Buy
Muhammad Irfan Published February 09, 2023 | 05:50 PM
London, Feb 9 (UrduPoint / Pakistan Point News - 9th Feb, 2023 ) :Anglo-Swedish drugmaker AstraZeneca on Thursday posted surging annual net profit, boosted by cancer treatments and the integration of biotech unit Alexion following a blockbuster takeover.
Profit after tax rocketed to $3.3 billion (3.
1 billion Euros) last year from just $112 million in 2021 on costs linked to the Alexion purchase, AstraZeneca said in a results statement.
AstraZeneca, which completed the takeover at a cost of $39 billion in 2021, saw revenues soar almost one fifth to $44.4 billion last year.
This was thanks to a strong contribution from cancer treatments that offset sliding fourth-quarter sales of its Covid vaccine.
AstraZeneca forecast Covid-19 medicine sales to decline "significantly" in 2023, with "minimal revenue" from its jab Vaxzevria.