AstraZeneca announces 23 percent revenue growth to $15.54 billion in the first half (H1) of 2021, with second quarter (Q2) growth of 31 percent to $8.22 billion.

According to the company’s H1 results, when sales of its pandemic COVID-19 vaccine (Vaxzervria) are excluded, the revenue increased by 14 percent in H1 to $14.37 billion and by 17 percent in Q2 to $7.33 billion.

Pascal Soriot, Chief Executive Officer, commented: “AstraZeneca has delivered another period of strong growth thanks to robust performances across all regions and disease areas, particularly Oncology, New CVRM and Fasenra in Respiratory. As a result, we have delivered further earnings progression, supported ongoing launches and continued our investment in R&D. We continue to advance our portfolio of life-changing medicines with further significant progress across disease areas. In Oncology, we recently presented Lynparza’s OlympiA Phase III trial at the plenary session of the 2021 American Society of Clinical Oncology Annual Meeting, and we also shared the final results from Calquence’s head-to-head trial with ibrutinib. In biological pharma, the US approved Farxiga for chronic kidney disease and granted tezepelumab Priority Review to treat patients with asthma. [The acquisition of] Alexion will enable us to enhance our pipeline, extending the company’s presence in rare diseases and immunology with its complement biology. Following the successful acquisition of Alexion, we are today updating our full-year 2021 guidance; our long-term goals to accelerate scientific discovery, invest for sustainable growth and deliver more benefits for patients remains unchanged.”

The enterprise revealed that new medicines represented 54 percent of the total revenue and had increased by 31 percent from H1 2020 to $8.33 billion. The oncology segment revenues grew by 19 percent to $6.36 billion and New CVRM9 increased by 21 percent to $2.73 billion. Respiratory & Immunology (R&I) increased by 11 percent to $2.97 billion.

Additionally, revenues from Emerging Markets grew by 26 percent to $5.50 billion with the performance benefitting from $455 million in sales of the pandemic COVID-19 vaccine, Vaxzervria. China contributed $3.21 billion to revenues, a growth of 21 percent. In the US, total revenue increased by 16 percent to $4.83 billion and in Europe by 33 percent to $3.26 billion, also benefitting from $572 million in sales of Vaxzervria.

Alexion, acquired by AstraZeneca on 21 July 2021, is not included in the company’s H1 financial results during the period. They will be incorporated for the first time in Alexion’s AstraZeneca’s year-to-date and Q3 2021 results to be announced on 12 November 2021.

Following the completion of the acquisition of Alexion and the issuance of new shares, the company is updating its financial year 2021 guidance at CER to include the contribution from Alexion and reflect the increase in weighted average number of shares outstanding to 1,418 million. The new guidance is that total revenue should increase by a low-twenties percentage, accompanied by a faster growth in core earnings per share (EPS) of $5.05 to $5.40. Core EPS in H1 was reportedly $2.53, a 26 percent growth.