LONDON, Nov 10 — British pharmaceuticals giant AstraZeneca today announced a return to third-quarter profit on increased revenue from sales of its drugs.
Net profit for the Covid-vaccine maker came in at US$1.64 billion (RM7.7 billion) in the July-September period, a statement said.
That compared with a loss after tax of US$1.65 billion in the third quarter of last year, in part on costs linked to its takeover of US biotech company Alexion.
For the third quarter of this year, revenue jumped 11 per cent to almost US$11 billion as AstraZeneca began to profit from the Alexion purchase that cost it US$39 billion.
AstraZeneca was benefitting also from “sustained investment in research and development (R&D)”, chief executive Pascal Soriot said in today’s statement. — AFP
