AstraZeneca revenue and profit rise amid the pandemiс
The company expects 2021 revenues to increase by a low teens percentage
Stocks impacted: AstraZeneca (AZN)
The British pharmaceutical giant reported that its fourth-quarter profit before tax was $1.17 billion, substantially higher than last year's $240 million. Earnings per share were $0.78, up from $0.24 last year. Core earnings per share were $1.07, up 19%. Total revenue increased 11% to $7.41 billion from last year's $6.66 billion while revenues increased 10% at constant exchange rates. The London-listed company expects 2021 revenues to increase by a low teens percentage, with faster growth in core earnings to US$4.75 to US$5.00 per share. As a reminder, in 2020, AstraZeneca teamed up with the University of Oxford to develop a COVID-19 vaccine. The firm also made its largest-ever deal by buying U.S. drugmaker Alexion for US$39 billion.
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