AstraZeneca Swung to 4Q Loss Despite Revenue Rise; Expects $2.1 Billion Restructuring Charge
10 Februar 2022 - 9:29AM
Dow Jones News
By Cecilia Butini
AstraZeneca PLC said Thursday that it swung to a fourth-quarter
loss despite posting higher revenue as charges related to its
acquisition of Alexion Pharmaceuticals weighed on earnings, and
said it expects to incur in a $2.1 billion post-acquisition
restructuring charge.
The Anglo-Swedish pharma giant posted a net loss of $347 million
for the last quarter of the year compared with a net profit of
$1.01 billion the year prior. However, revenue rose to $12.01
billion from $7.41 billion as sales grew in most therapeutic
areas.
Losses per share for the quarter were $0.22 compared with
earnings per share of $0.78 the year prior.
Sales of the company's Covid-19 vaccine contributed $1.87
billion to revenue in the quarter, but it said that it expects
sales of the shot to decline in 2022.
AstraZeneca said it has initiated a "comprehensive review" in
conjunction with the acquisition of Alexion, which it is aimed at
integrating systems, structure and processes, and which it expects
to complete by the end of 2025. The review is expected to produce
$2.1 billion restructuring costs.
Revenue is seen increasing by a high-teens percentage in 2022,
while core earnings per share are expected to rise in the
mid-to-high 20s percentage, AstraZeneca said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
February 10, 2022 03:14 ET (08:14 GMT)
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