AstraZeneca 1Q Profit Rose, But Decline in Covid-19 Drug Sales Hurt Revenue

FILE PHOTO: A vial labelled “AstraZeneca COVID-19 Vaccine” is seen in this illustration taken January 16, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Photo: DADO RUVIC/REUTERS

AstraZeneca PLC on Thursday reported a rise in profit for the first quarter, but said a decline in sales of its Covid-19 medicines hurt revenue.

The Anglo-Swedish pharma giant posted net profit of $1.80 billion for the period, up from $388 million the year prior, and beating analysts’ expectations of $1.52 billion.

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