The pharmaceutical giant AstraZeneca said on Tuesday it is withdrawing its COVID-19 vaccine worldwide citing low demand and a "surplus of available updated vaccines" since the pandemic. The vaccine — called Vaxzevria – was one of a number of shots released onto the market by pharmaceutical companies aimed at preventing people from catching COVID-19. The company said it would proceed to withdraw Vaxzevria's marketing authorizations within Europe. The vaccine was never approved in the U.S. by the FDA. POLAND ...

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by it ...

Completion of the additional equity investment of $140M by AstraZeneca, as previously announced on November 1 and 15, 2023 NEW YORK, May 06, 2024 (GLOBE NEWSWIRE) -- Cellectis (NASDAQ:CLLS) a clinical-stage biotechnology company using its pioneering gene-editing platform to develop life-saving cell and gene therapies, today announced that, following clearance from the French Ministry of Economy and satisfaction of all other closing conditions, AstraZeneca (NASDAQ:AZN) completed the additional equity investm ...

ToplineThe Federal Trade Commission is challenging hundreds of alleged “junk” patent listings filed by several pharmaceutical companies, which regulators claim could increase prices for medications like Novo Nordisk’s diabetes drug Ozempic by making it harder to produce generic drugs.The “bogus” patent listings keep brand name drug prices “artificially high,” regulators said.NurPhoto via Getty Images Key FactsThe FTC sent warning letters to 10 pharmaceutical companies—including Novo Nordisk, AstraZeneca, Gl ...

A dad who suffered a brain injury just days after receiving a British-developed COVID vaccine has told Sky News he would never have had the jab if he had known of the risk of rare but serious side effects.Jamie Scott, who has two young boys and is now unable to work, is suing AstraZeneca for what he says is damage caused by the jab in April 2021. He alleges the pharmaceutical giant exaggerated the vaccine's effectiveness and downplayed its risks.AstraZeneca denies the claims made against them.In his first T ...

AstraZeneca’s (AZN) first-quarter 2024 core earnings of $1.03 per American depositary share (ADS) beat the Zacks Consensus Estimate of 95 cents. Core earnings of $2.06 per share rose 7% year over year on a reported basis and 13% at constant exchange rates (“CER”).Total revenues of $12.68 billion rose 17% on a reported basis and 19% at CER, driven by rising product sales and continued growth in Alliance revenues from partnered medicines. Revenues also beat the Zacks Consensus Estimate of $11.92 billion.All g ...

Key TakeawaysAstraZeneca's sales of cancer drugs helped the pharmaceutical firm beat first-quarter estimates for earnings and revenue.Sales of oncology treatments rose 23%, and those for medicines made with partners jumped 59%.American depositary receipts (ADRs) of AstraZeneca traded near their all-time high on the news. American depositary receipts (ADRs) of AstraZeneca (AZN) traded near their all-time high as the Anglo-Swedish pharmaceutical company had solid first-quarter demand for its cancer drugs. Ast ...

AstraZeneca PLC (NASDAQ:AZN) Q1 2024 Earnings Conference Call April 25, 2024 6:45 AM ET Company Participants Andy Barnett - Head of Investor Relations Pascal Soriot - Executive Director and Chief Executive Officer Aradhana Sarin - Executive Director and Chief Financial Officer David Fredrickson - Executive Vice President of Oncology Susan Galbraith - Executive Vice President of Oncology R&D Ruud Dobber - Executive Vice President of BioPharmaceuticals Business Unit Sharon Barr - Executive Vice President of B ...

AstraZeneca plc today, on April 25, announced its earnings report for the first quarter of FY24. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Total Revenue increased by 19% to $ 12,679 million, driven by an 18% increase in product sales and continued growth in Alliance Revenue from partnered medicines. Core EPS increased 13% to $2.06. The increase in Core EPS was lower than total revenue growth mainly because of a $241m gain in the previous year’s ...

Financial Performance - Total Revenue for Q1 2024 increased by 19% to $12,679 million, driven by an 18% rise in Product Sales[5] - Core EPS rose by 13% to $2.06, impacted by a $241 million gain in the prior year from the disposal of Pulmicort Flexhaler US rights[5] - The company expects Total Revenue and Core EPS for FY 2024 to increase by a low double-digit to low teens percentage[8] - Total revenue for Q1 2024 reached $12,679 million, representing a 17% increase compared to Q1 2023[22] - Earnings per share increased by 21% to $1.41, reflecting strong financial performance[70] - Reported profit before tax rose by 24% to $2,800 million[71] - Gross profit for Q1 2024 was reported at $10,461 million, with a core gross profit of $10,491 million, reflecting a 15% increase year-over-year[72] - Operating profit was $3,115 million, with an operating margin of 25%, while core operating profit was $4,310 million, reflecting a margin of 34%[72] - Profit for the period was $2,180 million, an increase of 20.9% from $1,804 million in the same quarter last year[107] Revenue Growth by Segment - Oncology segment reported a 26% growth in revenue, while CVRM and Rare Disease segments grew by 23% and 16% respectively[5] - The US market contributed $5,124 million in revenue, representing a 19% increase[11] - Oncology revenue was $5,108 million, accounting for 40% of total revenue, with a 23% year-over-year growth[21] - Tagrisso generated $1,595 million in revenue, a 12% increase, while Imfinzi saw a 29% increase to $1,113 million[21] - The company achieved a 20% increase in BioPharmaceuticals: CVRM revenue, totaling $3,060 million[21] - Enhertu revenue surged by 79% to $461 million, reflecting strong demand in HER2-expressing tumors[21] - Total revenue from Rare Disease medicines increased by 12% to $2,096 million, representing 17% of overall total revenue[62] - Ultomiris generated $482 million in the US, with a 27% actual change[63] Research and Development - R&D expenses for Q1 2024 were $2,783 million, reflecting a 7% increase, with a core R&D-to-Total Revenue ratio of 21%[13] - R&D expenses amounted to $2,783 million, representing 22% of total revenue, with a core R&D expense of $2,698 million, which is 21% of total revenue[72] - The company is focused on expanding its product pipeline and enhancing its market presence through strategic collaborations and new product launches[158] Acquisitions and Collaborations - The acquisition of Gracell Biotechnologies was completed for an upfront cash consideration of approximately $1.0 billion, with a total potential transaction value of $1.2 billion[16] - AstraZeneca's acquisition of Icosavax, Inc. was finalized for approximately $0.8 billion, with a potential total value of $1.1 billion[16] - The company reported a 59% increase in alliance revenue to $457 million in Q1 2024, driven by Enhertu and Tezspire[23] - Collaboration Revenue is anticipated to increase substantially due to success-based milestones and certain expected transactions[8] - AstraZeneca's collaboration revenue increased to $45 million in Q1 2024, up from $27 million in Q1 2023, reflecting a growth of 66.7%[107] Sustainability Initiatives - AstraZeneca's sustainability initiatives include a partnership to reduce greenhouse gas emissions by 80% at its Wuxi site[17] - The company plans to reduce Scope 1 and 2 greenhouse gas emissions by up to 80% in China through a clean heat agreement[93] - AstraZeneca received the Sustainability Award at the 2024 Reuters Pharma Awards Europe for its efforts in electronic product information[93] Legal and Regulatory Matters - AstraZeneca's lawsuit against the US Department of Health and Human Services regarding the Inflation Reduction Act was dismissed in March 2024[143] - The company is involved in multiple inquiries into drug marketing and pricing practices, with no material developments reported[145] - The only remaining legal case regarding gastric cancer is scheduled for trial in January 2025[137] - AstraZeneca's appeal against the reversal of a favorable ruling in the PARP Inhibitor Royalty Dispute is pending with the Supreme Court of the United Kingdom[140] Financial Position and Cash Flow - Net cash inflow from operating activities was $2,486 million, down from $3,133 million in Q1 2023, primarily due to changes in working capital[79] - Capital expenditure for Q1 2024 was $417 million, up from $247 million in Q1 2023, with expectations for substantial increases in 2024[81] - Net debt increased by $3,939 million to $26,449 million as of March 31, 2024, driven by acquisitions and changes in borrowings[82] - Cash and cash equivalents at the end of Q1 2024 were $7.8 billion, compared to $5.8 billion in Q1 2023, reflecting a year-over-year increase of 34%[116] - The Group's total equity decreased to $37.5 billion in Q1 2024 from $39.2 billion in Q1 2023, a decline of 4.4%[110]