Anglo-Swedish pharmaceutical giant AstraZeneca said that it expects the revenue from its COVID-19 vaccines to decline by up to a quarter this year as demand wanes for the product.
Announcing its results for the first quarter of 2022, the firm said the sales of Vaxzevria—more commonly known as the Oxford/AstraZeneca vaccine—is expected to decline later in the year.
“Total revenue from COVID-19 medicines is anticipated to decline by a low-to-mid-twenties percentage,” the business said on April 29, adding that the majority of Vaxzevria revenue in 2022 is expected to come from initial contracts.
Health workers administer the AstraZeneca COVID-19 vaccines to the elderly at Central Vaccination Center in Bang Sue Grand Station in Bangkok, Thailand, on July 13, 2021. (Sirachai Arunrugstichai/Getty Images)
It comes despite global sales of the vaccine rising around fourfold in the first quarter of this year compared to the same period 12 months ago, to more than $1.1 billion.
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