Usa Sweden city Oxford covid-19 vaccine Coronavirus Usa Sweden city Oxford

AstraZeneca acquires 'modest' profit of $4B from COVID-19 vaccine sales

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LONDON (AP) - AstraZeneca recorded a big jump in revenue on Thursday as it begins to take a profit from its coronavirus vaccine for the first time.The company recorded full-year revenues of $37.4 billion, an increase of 38% from the year before at constant exchange rates.

Part of the boost came from $4 billion in sales of its COVID-19 vaccine, developed with the University of Oxford.Despite rising revenue, AstraZeneca reported a pre-tax loss of $265 million due to costs from its purchase of U.S.

drug company Alexion Pharmaceuticals and new drug research.RELATED: Biden stresses need to lower prescription drug costs in fight against US inflationThe Anglo-Swedish drugmaker said in November it would begin to take a "modest" profit from the COVID-19 shot, which it had been providing "at cost" — around $2 to $3 —following an agreement with Oxford.

Other COVID-19 vaccine producers, such as Pfizer and Moderna, have been booking hefty profits on their shots all along.In the three months to September, the company said revenue jumped by about 50%, to a record $9.9 billion.

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Thousands protest at Quebec City legislature again as anti-mandate demonstrations continue
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