AstraZeneca surpassed profitability expectations as it disclosed its third-quarter earnings, even as it confronts a significant legal challenge alleging that the effectiveness of its vaccines was greatly exaggerated.
The pharmaceutical giant reported core earnings per share of $1.73 for the quarter, an increase from $1.67 the previous year and slightly above the anticipated $1.72. For the first nine months, core earnings per share rose by 17 percent to $5.80.
AstraZeneca has raised its full-year outlook, projecting that its total revenue will grow by a mid-single-digit percentage, and when excluding Covid-related products, by a low-teen percentage.
Despite a $2.9 billion (£2.4 billion) drop from Covid-related products, total revenue reached $33.8 billion (£27.5 billion), a 5 percent increase.
The Telegraph has uncovered that the company is facing a lawsuit in the High Court concerning its Covid vaccine. This case could set a precedent for up to 80 further compensation claims, potentially amounting to around £80 million.
