AstraZeneca to maintain momentum after ‘landmark’ performance
AstraZeneca is forecasting profits to continue to grow strongly this year after a “landmark” performance in 2021.
The global pharmaceutical giant increased revenues by 41% to $37.4bn (£27.6bn), boosted by its $39bn (£29bn) takeover of rare disease company Alexion Pharmaceuticals last summer.
Its fourth quarter delivered record revenues of $12bn, which was $1bn higher than analyst forecasts.
AstraZeneca now expects revenues to “increase by a high teens percentage” this year, with earnings-per-share to accelerate at a faster rate, “by a mid-to-high twenties percentage”.
Pascal Soriot
Pascal Soriot, chief executive at AstraZeneca, said: “After a landmark year in 2021, we are increasing the dividend for our shareholders.”
It is the first time in a decade that it has increased its dividend, and it also revealed it intends to increase its annualised dividend by 3.6%.
Soriot added: “AstraZeneca continued on its strong growth trajectory in 2021, with industry-leading R&D productivity, five of our medicines crossing new blockbuster thresholds, and the acquisition and integration of Alexion.
“The positive news from our pipeline, including approvals for Evusheld and Tezspire, supports the outlook for 2022. This, along with the transformative acquisition of Alexion, means that we are confident in our long term growth and profitability.”
Soriot also highlighted how the group has “delivered on our promise of broad and equitable access to our Covid-19 vaccine with 2.5bn doses released for supply around the world”.
The Oxford-AstraZeneca vaccine has been used extensively around the world, although in the UK the Moderna and Pfizer boosters have been dominant.
