The company's sales and outlook highlight the rapid decline of its COVID vaccine, its best-selling product in 2021 at the height of the pandemic, which has struggled to compete with rival shots developed by Pfizer and Moderna.
The company's cancer drug Imfinzi generated $900 million in the quarter, handsomely beating estimates of $735 million from brokerage Cowen. Funds will continue to embrace AstraZeneca's strategy and are probably increasingly confident in what the company is doing, Russ Mould, investment director at the stockbroker AJ Bell, told Reuters.
AstraZeneca is seen as a bellwether for the pharmaceutical sector in China, given its outsized presence in the region. In 2022, the country accounted for about 13% of the company's total revenue.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »