AstraZeneca PLC (LSE:AZN) said five new drugs had taken on blockbuster status last year generating over US$1bn in revenues each as it delivered a strong financial performance, boosted by the US$39bn takeover of Alexion Pharmaceuticals (NASDAQ:ALXN).
Total revenues for 2021 were US$37.4mln, up 41%, while core earnings rose 32% to US$5.29 per share.
Looking ahead, the Anglo-Swedish giant said it expects to deliver "high teens" percentage sales growth this year, which should translate into a "high-to-mid twenties" percentage increase in EPS.
AZ will also be hoping to repeat the clinical success of last year in which it achieved 14 positive phase III trial readouts and gained 22 regulatory readouts.
A leading COVID-19 vaccine supplier, it generated US$4.1bn from this source. While rival Pfizer did considerably better on the score, booking US$37bn of sales from the global roll-out of its inoculation, AZ pledged to provide its drug almost at cost.
Chief executive Pascal Soriot told investors the drug giant had delivered its promise of "broad and equitable access to our COVID-19 vaccine" with 2.5bn doses released for supply around the world.
Following the Alexion takeover, AZ embarked on a strategic review of the entire group, which it now says will cost US$2.1bn to release annual pre-tax benefits of US$1.2bn.