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AstraZeneca to take profits from its vaccine as ‘Covid becoming endemic’

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Pharma giant AstraZeneca has said it expects to earn modest income from its Covid-19 vaccine and has signed a series of for-profit agreements for next year, now that the disease is becoming endemic.

Earlier, AstraZeneca had said it would start making money from its vaccine only when Covid was no longer a pandemic.

“We decided to provide it at no profit because our top priority was to protect global health,” the company’s chief executive Pascal Soriot had said.

He said now the disease was becoming endemic.

Soriot added that the contracts had been signed for next year. “The virus is becoming endemic, which means we have to learn to live with it,” he said.

“We started this to help, but we said we would transition (to making a profit),” Soriot said.

He elaborated that there will be tiered pricing for countries to ensure affordability of the vaccine.

Stressing that the company was proud of the impact it had made by saving millions of hospitalizations, Soriot said that the AstraZeneca expected to donate 250 million doses of the vaccine to the Covax programme for developing countries.

In its latest financial results, AstraZeneca said, “Covid-19 vaccines sales in (the fourth quarter of 2021) are expected to be a blend of the original pandemic agreements and new orders, with the large majority coming from pandemic agreements.”

 

 

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