AstraZeneca: Unsung Hero in the Fight Against COVID-19?
AstraZeneca had little experience in the world of vaccinations, but when the coronavirus pandemic started ravaging nations around the world, the company best known for its oncology medicines, took action. Partnering with experts at the University of Oxford’s Jenner Institute, AstraZeneca pledged to play a primary role in vaccinating the world by producing billions of doses, all while agreeing to make no profit on the vaccine until the pandemic is over.
Since then, AstraZeneca has taken some punches, and gone through high’s and low’s in their COVID-19 vaccine roll out. But, AstraZeneca’s CEO, Pascal Soriot is choosing to look at the positives saying, “At the end of the day, we can look at this as the glass half empty or the glass half full.” He pointed out that AstraZeneca is slated to vaccinate 300 million people in India by this summer, and is still the second largest vaccine supplier to Europe. Estimates are that the AZ vaccine has saved 10,500 lives in the U.K. to date.
But, fighting COVID-19 is not AstraZeneca’s only battle. The company is a leader in the creation of medicines for a variety of health areas including oncology, neuroscience, cardiovascular, respiratory, gastrointestinal, and more. Currently, AstraZeneca has 166 new projects in the pipeline, 12 new molecular entities in the late-stage pipeline, and two new molecular entities new to phase 3. The UK-based drug manufacturer has a long history in the world of pharmaceuticals, and has come a long way since it’s big break in 1948 when it introduced numbing agent lidocaine to the worldwide market for the first time.
So, what’s next for AstraZeneca? How do their vaccination goals impact not just the financials, but overall corporate strategy? What’s in the pipeline and how does that affect their strategy?
If you’re interested in AstraZeneca, the Pharmaceutical industry, or growing your business acumen, then our next webinar is a must-see! On Wednesday, June 23 at 11 am (EDT) we’ll be hosting a free one-hour webinar where we’ll teach you how to break down AstraZeneca’s strategy and financial metrics.
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AstraZeneca Earnings Call Transcript
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