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AstraZeneca revenue climbs in Q1 on stronger performance in new medicines
StockMarketWire.com
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Pharmaceutical giant AstraZeneca reported a rise in first quarter, driven by performance in new medicines across oncology and bioPharmaceuticals.
For the first quarter of the year, revenue was up 15% to $7.32 billion as product sales increased 15% to $7.26 billion.
Oncology revenue grew 20% and new cardiovascular, renal and metabolism revenue grew 19%.
'New medicines contributed over half of revenue and all regions delivered encouraging growth,' the company said.
Covid-19 vaccine revenue was $275 million in the quarter, reflecting the delivery of 68 million doses worldwide.
The company reiterated full-year 2021 guidance for revenue to increase by a low-teens percentage, accompanied by faster growth in core EPS to $4.75 to $5.00.
'We expect the impact of COVID to reduce and anticipate a performance acceleration in the second half of 2021,' the company said.
Story provided by StockMarketWire.com
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