[ad_1]
Thursday 05 November 2020
Due to his vaccine study, many people in the Crown crisis are pinning their hopes on Astrazeneca. But even so, the pharmaceutical company is already big in the business. The British reiterated their rosy goals for the year as a whole.
British pharmaceutical company Astrazeneca is benefiting from business growth with new drugs. The Cambridge-based company more than doubled its net profit in the third quarter and confirmed its forecast for the year. However, core earnings and earnings were slightly below analysts’ expectations.
Net income grew in the three months to $ 648 million from $ 299 million in the quarter a year ago. Sales increased in the third quarter by 2.7 percent to $ 6.58 billion, where market watchers expected $ 6.61 billion. While cooperative revenues fell, product sales increased by six percent, the group announced.
Astrazeneca has seen significant increases in anticancer drugs in particular. Adjusted earnings per share fell four percent to 94 cents, slightly below what analysts expected. The company reiterated its goals for the entire year. It continues to anticipate an increase in total sales in the percentage range from high to single digit to low to double digit. Basic earnings per share are expected to increase in the upper mid-range by ten percent. However, the further development of the Covid 19 pandemic could give rise to uncertainties for the outlook, Astrazeneca admitted.
Together with the Biontech and Pfizer duo and the US biotech group Moderna, Astrazeneca is one of the leading companies in the race for a coronavirus vaccine. The group confirmed that they would expect results from the crucial study with vaccination by the end of the year. In a US study, Astrazeneca now wants to test the Covid-19 vaccine on more subjects: 40,000 volunteers will now participate in the study and not just about 30,000.
.
[ad_2]
Source link
