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AstraZeneca beats Q3 sales estimate on strong demand; backs 2020 outlook

Product sales, which exclude payments from collaborations, rose 7 per cent to $6.52 billion for the three months ended September 30 on a constant-currency basis

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AstraZeneca

Reuters 

AstraZeneca
The company has taken on the development of Oxford University's potential Covid-19 vaccine, scoring billions in funding and signing multiple deals to supply over three billion doses to countries around the world

AstraZeneca, the British drugmaker working on one of the world's leading Covid-19 vaccine candidates, on Thursday beat third-quarter sales estimates on strong demand for its diverse portfolio of drugs during Covid-19 pandemic lockdowns and maintained its 2020 forecasts.

Product sales, which exclude payments from collaborations, rose 7 per cent to $6.52 billion for the three months ended September 30 on a constant-currency basis, ahead of a company-compiled consensus of $6.50 billion. However, the company reported core earnings of 94 cents per share, lower than analysts' expectations of 98 cents.

The company has taken on the development of Oxford University's potential Covid-19 vaccine, scoring billions in funding and signing multiple deals to supply over three billion doses to countries around the world.

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First Published: Fri, November 06 2020. 00:50 IST
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