AstraZeneca, the UK drug maker working on one of the world‘s leading COVID-19 vaccine candidates, beat third-quarter sales estimates on Thursday and reiterated that it expected late trial data from the vaccine later this year.
The company has supported the development of the University of Oxford’s potential COVID-19 vaccine, totaling billions of dollars in funding and signing multiple deals to deliver more than three billion doses to countries around the world.
Data from October showed that the vaccine, called AZD1222 or ChAdOx1 nCoV-19, produces an immune response in older and young adults. AstraZeneca is expected to release much anticipated data from advanced clinical trials in the coming weeks.
Britain is expected to start rolling out an effective vaccine in late December or early 2021.
As AstraZeneca moves forward with the vaccine, demand for its diverse drug portfolio has remained strong despite disruption to health systems due to the pandemic.
Product sales, which exclude payments from collaborations, increased 7% to $ 6.52 billion for the three months ended Sept. 30 at constant exchange rates, ahead of a company consensus of 6. 50 billion dollars.
However, the company reported basic earnings of 94 cents per share, lower than analysts’ expectations of 98 cents.
AstraZeneca said it still expects total revenue to grow from a high single-digit percentage to a low double-digit percentage, and core earnings per share to increase by an average percentage to Student.
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