AstraZeneca estimates 2021 growth after beating 4th quarter sales, sees faster growth

Following a stronger-than-expected 4^th quarter sales performance, COVID-19 vaccine developer AstraZeneca released its sales growth forecast for 2021 on Thursday. The British drug producer expects a “faster growth” in its core earnings.

AstraZeneca, a London-listed company, projected a $4.75 to $5.00 per share growth in its 2021 shares. Its low teens percentage forecasts came after hitting a $7.01 billion worth of product sales in the fourth quarter of 2020, beating its company-compiled consensus of $6.81 billion.

Last year, AstraZeneca worked with the University of Oxford to develop a COVID-19 vaccine. The vaccine developer’s biggest move in 2020 was when it made its largest deal, acquiring U>S.-based drug producer Alexion for $39 billion.

Despite “faster growth’ forecast, AstraZeneca said it did not consider the impact of its COVID-19 vaccine development.