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ASTRAZENECA

AstraZeneca profits drop as key patents expire

Anglo-Swedish pharmaceuticals giant AstraZeneca on Thursday said its net profits sank 56 percent in the third quarter, as group revenues tumbled on the expiry of key drug patents.

Published: 25 October 2012 09:22 CEST
AstraZeneca profits drop as key patents expire

Earnings after tax slumped to $1.53 billion in the three months to the end of September, compared with $3.48 billion in the same period of 2011, AstraZeneca said in a results statement.

Sales tumbled 19 percent to $6.68 billion.

“As expected, the revenue decline in the third quarter reflected the ongoing effect from the loss of exclusivity on several brands,” AstraZeneca said in the statement.

The company added that its financial targets for the full year remained unchanged.

The company is facing crucial patent expires up until 2015 on drugs such as schizophrenia treatment Seroquel and heartburn and ulcer drug Nexium.

It will also suffer the loss of patent protection in the United States for its best-selling anti-cholesterol drug, Crestor, in 2016.

The latest earnings update was meanwhile the first under the group’s new chief executive Pascal Soriot.

The Frenchman who was previously a senior executive at Swiss drugs group Roche took up his role at the start of October following the resignation of American David Brennan, who stepped down as AstraZeneca boss in April.

“As I take up my new role as chief executive, my priority is to restore the company to growth and scientific leadership,” Soriot said in Thursday’s statement.

Earlier this year, Brennan announced plans to cut 7,300 jobs by 2014 to improve profitability at AstraZeneca, which has come under heavy pressure in recent times from generic drugs competition.

AFP/The Local

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VACCINE

Danish engineers first to be jabbed under voluntary vaccine scheme

Twenty employees of the Danish engineering firm Lowenco, together with their boss Mikael Hoier, on Sunday became the first people to be given the Johnson & Johnson vaccine under Denmark’s new optional vaccination scheme.

Published: 24 May 2021 19:03 CEST
Danish engineers first to be jabbed under voluntary vaccine scheme
Practio co-founder Jonas Nilsen said that the employees had all been given detailed adviuce before they were given the jab. Photo: Practio

The group wanted to get vaccinated so that they can travel to India to install 20 freezers at a vaccine factory.

“It went pretty well, pretty calm and then a little prick,” Hoier, director of Lowenco, told state broadcaster DR.

After undergoing a medical consultation on Saturday, the group were given the green light to get vaccinated on Sunday.

“They all had many questions about potential side effects and the pros and cons of receiving the vaccine,” said Jonas Nilsen, a doctor and co-founder of Practio, which has been given the task of vaccinating Danes under the new optional scheme.

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After thinking over the decision overnight, two of the company’s employees opted against receiving the vaccine. 

“That is absolutely OK by me. It’s a personal decision and it won’t go against them,” Hoier said. 

Practio doctors advised the company to delay their departure to India to the end of this week, so the vaccine has more time to take effect, and they do not suffer complications during their trip.

“There is a chance that someone will be affected by side effects such as headaches, fever and soreness shortly after being injected,” he said.

Sunday’s vaccinations were carried out at Sønderbro Apotek in Copenhagen, and from Monday, vaccinations will be given at Practio’s own vaccine site in Copenhagen, where up to 5,000 people can be vaccinated a day.

The company plans to soon open vaccination centres in Roskilde, Odense, Aarhus and Aalborg. 

On Sunday, Nilsen told Norwegian broadcaster NRK that more than 20,000 people in Denmark had already put themselves down on the list for an optional vaccination, and said that his company is capable of treating about 70,000 vaccination patients a day. 

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