{"id":109204,"title":"AstraZeneca subsidiary finalizes a US$1bn deal with Pfizer for rare diseases.","publisher":"Share Talk","author":"sharetalk","published":"2023-07-28T07:10:13+00:00","modified":"2023-07-28T07:10:13+00:00","canonical_url":"https://www.share-talk.com/astrazeneca-subsidiary-finalizes-a-us1bn-deal-with-pfizer-for-rare-diseases/","markdown_url":"https://www.share-talk.com/astrazeneca-subsidiary-finalizes-a-us1bn-deal-with-pfizer-for-rare-diseases.md","json_url":"https://www.share-talk.com/astrazeneca-subsidiary-finalizes-a-us1bn-deal-with-pfizer-for-rare-diseases.json","category":"Healthcare","categories":["Healthcare","Pharmaceutical"],"tags":["AstraZeneca","Boris Johnson","BRITAIN","COVID-19","infections","mRNA","Oxford University","Pascal Soriot","Pfizer","pharmaceutical","United Kingdom","Vaccine","Vaccines"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"AstraZeneca has reported a stronger-than-anticipated performance in the second quarter, with robust sales from its leading cancer drugs offsetting the decline in Covid vaccine sales.\n\nThe Anglo-Swedish pharmaceutical giant reported an adjusted profit of $2.15 per share, a 25% increase, which surpassed the expected $1.98 per share according to the company-compiled consensus estimates.\n\nThe quarterly revenue soared to $11.4bn (£8.9bn), a 6% hike, exceeding the analyst estimates of nearly $11bn.\n\nContrary to its peak performance in 2021, when it was the top-selling product amidst the pandemic, AstraZeneca reported no sales of its Covid vaccine in the recent quarter. It lost the market to competing mRNA vaccines after generating $445m in the same quarter the previous year.\n\nPascal Soriot, AstraZeneca’s CEO, remarked, “Our non-Covid-19 therapy areas experienced double-digit revenue growth, with eight drugs generating over $1bn in revenue in the first half, indicating the resilience of our business.”\n\nAstraZeneca, currently the UK’s largest company by market capitalisation at over £165bn, reaffirmed its 2023 forecast.\n\nFurthermore, the company announced that it had reached an agreement to acquire a suite of rare disease gene therapies from Pfizer in a deal that could reach up to $1bn, with additional tiered royalties on subsequent sales."}