AstraZeneca reports Q4 results: ‘we’re facing challenges in China’

Shares of AstraZeneca plc (NASDAQ: AZN) are up 3.5% this morning on a significant YoY increase in Q4 revenue. Charges related to the Alexion acquisition, however, pushed it into a quarterly loss.

AstraZeneca's Q4 results

AstraZeneca reported $347 million in net loss versus the year-ago figure of $1.01 billion in net profit, as per the earnings press release. Its revenue, though, jumped from last year’s $7.41 billion to $12.01 billion. On a per-share basis, the British multinational lost 22 cents in Q4.

The biotech firm valued quarterly sales of its COVID-19 vaccine at $1.87 billion but warned of a slowdown in 2022. AstraZeneca, however, expects sales of Evusheld (monoclonal-antibody combination) to offset this decline. On CNBC’s “Worldwide Exchange”, CEO Pascal Soriot said:

CEO Soriot’s outlook moving forward

For fiscal 2022, AstraZeneca forecasts a more than 15% annualised growth in revenue and over 25% increase in core EPS. The pharmaceutical company is increasingly making its COVID shot, Vaxzeviria, a for-profit product in various markets. The chief executive added:

AstraZeneca expects another $2.10 billion in post-acquisition restructuring costs. Another headwind is the rising cost pressure in China – an important market for the pharmaceutical giant. CEO Soriot noted: