AstraZeneca raised its earnings guidance for the full year, after its margins were boosted by soaring sales of higher priced oncology and rare disease drugs and a drop in revenue from non-profit contracts for its Covid-19 vaccine.
The Anglo-Swedish drugmaker expected 2022 core earnings per share to increase by a high twenties to low thirties percentage, compared with previous guidance to expect a mid-to-high twenties rise.
Pascal Soriot, AstraZeneca’s chief executive, said the company was benefiting from “sustained investment” in research and development, including 19 regulatory approvals since the last earnings call.
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