AstraZeneca, co-developer of one of the first COVID-19 vaccines to be authorized for widespread use, says fourth-quarter earnings more than tripled amid strong sales of cancer drugs
LONDON — AstraZeneca, co-developer of one of the first COVID-19 vaccines to be authorized for widespread use, says fourth-quarter earnings more than tripled amid strong sales of its cancer drugs.
The Anglo-Swedish company said Thursday that net income rose to $1.01 billion from $313 million in the same quarter a year earlier.
Drug sales increased 11% to $7.41 billion, driven by a 24% increase in cancer treatments.
The company posted $2 million of revenue from its COVID-19 vaccine, which it has pledged to supply on a non-profit basis during the pandemic, and said it would begin reporting sales of the vaccine separately beginning in the next quarter.