---
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"
date: 2023-07-28
canonical: "https://www.share-talk.com/astrazeneca-subsidiary-finalizes-a-us1bn-deal-with-pfizer-for-rare-diseases/"
category: "Healthcare"
categories: ["Healthcare", "Pharmaceutical"]
tags: ["AstraZeneca", "Boris Johnson", "BRITAIN", "COVID-19", "infections", "mRNA", "Oxford University", "Pascal Soriot", "Pfizer", "pharmaceutical", "United Kingdom", "Vaccine", "Vaccines"]
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"
---

# AstraZeneca subsidiary finalizes a US$1bn deal with Pfizer for rare diseases.

**Published:** July 28, 2023
**Author:** sharetalk
**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)

---

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.

The 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.

The quarterly revenue soared to $11.4bn (£8.9bn), a 6% hike, exceeding the analyst estimates of nearly $11bn.

Contrary 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.

Pascal 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.”

AstraZeneca, currently the UK’s largest company by market capitalisation at over £165bn, reaffirmed its 2023 forecast.

Furthermore, 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.

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**Original URL:** https://www.share-talk.com/astrazeneca-subsidiary-finalizes-a-us1bn-deal-with-pfizer-for-rare-diseases/
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