Astra's Covid-19 vaccine sales triple in Q2, top $1 billion in H1

Firm exploring whether vaccine biz is sustainable for next 5-10 years: Official

Second-quarter (Q2) sales of AstraZeneca’s Covid-19 vaccine more than tripled to $894 million from the first quarter, but the drugmaker on Thursday again delayed its US application for approval as it gathers more data for submissions.

The vaccine has been touted as a major weapon against the pandemic because it is cheaper and easier to use than some rivals. AstraZeneca and its Indian manufacturing partner say they have supplied a billion doses to 170 countries so far. But the shot has also faced setbacks, including disputes over data, production problems, and links to rare side-effects that have led some countries to stop or restrict its use. The United States has been particularly critical of the vaccine.

Despite setbacks, the company said the vaccine, Vaxzevria, brought in $1.17 billion in sales in the first six months of year (H1), putting it among its best-selling products, behind first-placed lung cancer drug Tagrisso on $2.54 billion.

Vaccine sales were based on deliveries of about 319 million doses, it said, giving an average price of about $3.7 per dose. Deliveries from its partner, India-based Serum Institute, were not included.

AstraZeneca said on Thursday it now expected to seek US approval for the vaccine in the second half of this year, and it still hopeful the shot will have a role to play there. Previously, it had planned an application during the first half.

A senior executive separately told Reuters that the company was exploring options for the future of its Covid-19 vaccine business, with more clarity on the matter expected by the end of the year. Elsewhere, AstraZeneca is hoping for a boost from the recent purchase of rare medicines business Alexion.

Including Alexion, it now expects total revenue to increase by a low-twenties percentage this year, and core earnings of $5.05 to $5.40 per share. The forecasts do not include sales from the vaccine. AstraZeneca shares fell 1.4 per cent in early trade but had recovered the losses and edged higher by 1109 GMT.

The Anglo-Swedish drugmaker is also hoping to settle legal proceedings with the European Commission over vaccine delivery commitments. AstraZeneca has said it will not make a profit from the shot during the pandemic.