Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Sales of Covid vaccine set to decline as demand wanes, AstraZeneca predicts

Sales of the Oxford/AstraZeneca coronavirus vaccine are likely to fall later this year (Nick Potts/PA)
Sales of the Oxford/AstraZeneca coronavirus vaccine are likely to fall later this year (Nick Potts/PA)

Anglo-Swedish drugs giant AstraZeneca expects revenue from its Covid-19 medicines to fall by a fifth this year as demand wanes for its life-saving vaccine.

The business has reiterated that it expected sales of Vaxzevria – more commonly known as the Oxford/AstraZeneca vaccine – will decline later in 2022.

It comes despite sales of the vaccine rising around fourfold in the first quarter of this year compared to the same period 12 months ago, to more than 1.1 billion dollars.

But in Europe sales were down by 40%, the business revealed on Friday.

A year ago the continent took eight in 10 Vaxzevria vaccines produced as countries there were among the first to roll it out.

Staff work in an AstraZeneca manufacturing site in Oxford
Staff work in an AstraZeneca manufacturing site in Oxford (PA)

While sales of the vaccine are expected to fall this year, this will be partially offset by Astra’s new Covid treatment Evusheld.

It was approved in the UK last month for use with patients with poor immune responses.

Revenue grew by 60% across all of Astra’s business to 11.4 billion dollars (£9.1bn) in the first three months of the year,

Analysts had expected revenue to reach less than 11 billion, according to a consensus compiled by the company.

The pharma giant said that it had sold products for just under 11 billion dollars (£8.8bn) during the quarter, 51% higher than the same period a year ago.

Nearly 1.7 billion dollars of this was thanks to its deal with Alexion, a US medicines producer that focuses on treating rare diseases.

Astra bought Alexion in July last year, so its medicines were not counted in Astra’s results this time a year ago.

Separately the business announced that it will open a new research and development site in Cambridge, Massachusetts to be completed in 2026.

It will have 1,500 staff and serve as Alexion’s new headquarters.

“Today’s announcement is a milestone moment following the acquisition of Alexion in July 2021,” said chief executive Pascal Soriot.

“Our combined company has already successfully leveraged internal scientific synergies, and this move will act as a catalyst for even more external collaboration and innovation.”

“The move will provide access to some of the most innovative partners in academia and biotech, offering opportunities to accelerate our growth and collaborate with like-minded organisations as we continue to push the boundaries of science to deliver advances for patients.”

Already a subscriber? Sign in

[[title]]

[[text]]