AstraZeneca Made $275 Million Off Its Covid Vaccine
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The drugmaker delivered 68 million doses during its first quarter of 2021, with sales mostly coming from Europe, the company said in its earnings report. Sales in Europe were $224 million and $43 million in emerging markets.
The company’s Covid-19 vaccine made only 4% of its revenue during the first quarter, but its cancer drug Tagrisso made over $1.1 billion in sales during the quarter, the company said.
AstraZeneca added that it will not profit from its Covid-19 vaccine, selling it to countries at $4 per dose (which is less expensive than other major vaccines), according to Reuters.
CEO Pascal Soriot said during a briefing that AstraZeneca is on track to deliver 200 million doses a month. The vaccine has so far been approved in at least 78 countries, though it is still not authorized for use in the U.S. Still, the U.S. plans to share 60 million doses of the AstraZeneca shot with the rest of the world, Andy Slavitt, senior advisor to President Joe Biden’s Covid-19 response team, said this week on Twitter.
Johnson & Johnson, which said it also doesn’t intend to profit from its Covid-19 vaccine and has been selling it to the American government "at cost," posted $100 million in sales in the U.S. during the first three months of 2021, according to The New York Times. Other vaccine makers, including Pfizer and Moderna, are set to report their first-quarter earnings next week. Pfizer is expecting around $15 billion in revenue from its vaccine, while Moderna is expecting $18.4 billion in sales.