Astra Zeneca has reported a 41 per cent jump in its full-year revenues, which have soared to $37.4bn.
In its final quarter, sales soared 62 per cent to $12bn.
The Anglo-Swedish giant has also forecast higher 2022 sales and raised its annual dividend for the first time in a decade after beating fourth-quarter profit expectations.
Analysts are estimating earnings per share of $6.68 and sales of $42.73bn next year, according to estimate Refinitiv IBES data
The company’s guidance for the coming full-year is of a high-teens percentage increase in total revenue, and a mid-to-high twenties percentage increase in earnings per share.
AstraZeneca also said it would raise its annualised dividend by $0.10 to $2.90 per share.
It has also approved a second interim dividend for the full year of $1.97, payable in March 2022.
However it has also warned the $4bn boost from its COVID-19 products would start to decline, following a modest profit from its vaccine and antibody treatments over the past 12 months.
The vaccine was the second best-selling product for the year for the pharmaceutical giant.
It was second only to lung cancer drug Tagrisso, which racked up over $5bn in revenues, highlighting the importance of the AstraZeneca jab in its first year since launch.
The group has also suffered declining profits amid hefty increases in research and development spending, rising 62 per cent to $9.8bn, following its investment in Vaxzevria and Evusheld, It has also acquired Alexion Phamarceutical last summer, which has further increased its expenditure.
Laura Hoy, equity analyst at Hargreaves Lansdown explained: “The real driver for Astra’s profit decline was the Alexion acquisition. The purchase brought Rare Diseases under the Astra umbrella and our fist glimpse at performance for this sector wasn’t too shabby. Management were confident enough in the promise of future growth that they announced a dividend hike.”
Neil Shah, director of research at Edison Group, was impressed that it managed to sustain its performance across the year.
He said: “Momentum in development was sustained throughout the year with five medicines crossing new thresholds, alongside approvals for Evusheld and Tezspire. The acquisition of Alexion within the period will drive expansion into the rare diseases sector, with rare diseases medicines already generating eight per cent of AstraZeneca’s full-year total revenue.”
Chief executive Pascal Soriot, AstraZeneca, said: “AstraZeneca continued on its strong growth trajectory in 2021, with industry-leading R&D productivity, five of our medicines crossing new blockbuster thresholds, and the acquisition and integration of Alexion. We also delivered on our promise of broad and equitable access to our COVID-19 vaccine with 2.5bn doses released for supply around the world, and we made good progress on reducing our greenhouse gas emissions.”
Astra Zeneca’s shares have risen 2.7 per cent to FTSE 100 following the results.