AstraZeneca Expects Vaccine Data This Year, Sales Beat Estimates
AstraZeneca, the British drugmaker working on one of the world’s leading COVID-19 vaccine candidates, on Thursday beat third-quarter sales estimates as demand for its diverse portfolio of drugs remained strong during COVID-19 pandemic lockdowns, and it maintained its 2020 forecasts.
The company reiterated it expected results from the late-stage trials on its experimental COVID-19 vaccine later this year, depending on the rate of infection among trial participants.
Product sales, which exclude payments from collaborations, rose 7% to $6.52 billion for the three months ended Sept. 30 on a constant-currency basis, ahead of a company-compiled consensus of $6.50 billion.
However, the company reported core earnings of 94 cents per share, lower than analysts’ expectations of 98 cents.
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