Read news from:
Austria
SHARE
COPY LINK

ASTRAZENECA

Patent expirations hit AstraZeneca profits

Anglo-Swedish pharmaceuticals giant AstraZeneca announced a 4-percent revenue decrease in the second quarter, citing the loss of exclusivity of several key brands.

Published: 1 August 2013 08:32 CEST
Patent expirations hit AstraZeneca profits

AstraZeneca cited a $1,086 million second-quarter profit, compared to 2012 second-quarter profits of $1,745 million. Revenue was down 4 percent, but with currency fluctuations, chiefly of the Japenese yen, taken into account, the real revenue loss reached about 6 percent, the company stated.

“We have made real progress in the second quarter against our strategic priorities despite the anticipated impact on revenue of the loss of exclusivity for some brands,” CEO Pascal Soriot said in a statement.

The company underlined that while expired patents account for much of its downturn, the loss of exclusivity of certain drugs had been halved since the first quarter.

AstraZeneca recently lost market exclusivity for schizophrenia treatment Seroquel IR and heart-failure medication Atacand in many markets, and for anti-cholesterol drug Crestor in Canada.

In March, the company announced plans to cut 5,050 jobs, about 9 percent of its current global workforce, over the next three years as it faces increased competition amid patent expiries.

The company further cited several new drugs in the pipeline, purchases of Omthera Pharmaceuticals and Pearl Therapeutics, a collaboration with FibroGen and research investments in the UK as factors underpinning the potential for stable growth in the future.

TT/AFP/The Local/at

Follow The Local on Twitter

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

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.

READ ALSO: 

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. 

SHOW COMMENTS