World’s leading COVID-19 vaccine candidate, AstraZeneca, beat third-quarter sales estimates on Thursday. The British drugmaker reiterated that it expects data from late-stage trials of the vaccine by the end of this year.
The company has taken on the development of Oxford University's potential COVID-19 vaccine. The firm calculates it will cost billions in funding and signing multiple deals to supply over three billion doses to countries around the world.
Data in October showed the vaccine, called AZD1222 or ChAdOx1 nCoV-19, produces an immune response in both old and young adults.
AstraZeneca’s most awaited late-stage clinical trial data is expected to arrive in the coming weeks.
There are possibilities that Britain can start rolling out a successful and strong vaccine in late December or early 2021.
As AstraZeneca moves on with the production process of its vaccine, demand for its diverse portfolio of drugs continues to be strong amongst various countries.
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Product sales, which exclude payments from collaborations, rose 7% to $6.52 billion for the three months ended Sept. 30 on a constant-currency basis, ahead of a company-compiled consensus of $6.50 billion.
The company expects its total revenue to grow by a high single-digit to a low double-digit percentage and core earnings per share to increase by a mid- to high-teens percentage.