AstraZeneca reports 10% boost to annual revenues

Macclesfield-based pharmaceuticals firm, AstraZeneca, has seen its revenues boosted by 10% in the past year.

The firm, which is behind one of the coronavirus vaccines currently being distributed in the UK, reported revenue growth of $26.6 billion in 2020. The firm is one of the Macclesfield area’s key employers.

Pascal Soriot, CEO of AstraZeneca, commented:

The performance last year marked a significant step forward for AstraZeneca.

“Despite the significant impact from the pandemic, we delivered double-digit revenue growth to leverage improved profitability and cash generation.

“The consistent achievements in the pipeline, the accelerating performance of our business and the progress of the Covid-19 vaccine demonstrated what we can achieve, while the proposed acquisition of Alexion is intended to accelerate our scientific and commercial evolution even further.

“Additional investment in new medicines continued to fuel our rapidly growing oncology and biopharmaceuticals therapy areas.

“Thanks to the focus on an industry-leading pipeline and consistent execution, I am confident that we will continue to deliver more progress for patients and sustained, compelling results.”

The coronavirus vaccine developed by the firm in partnership with researchers from Oxford University, is currently being distributed in the UK to the most vulnerable groups. The World Health Organisation has also recently recommended its use.

The Macclesfield-based pharmaceutical firm previously announced that its vaccine would be sold at cost price to developing countries, to ensure access worldwide.