AstraZeneca, the pharmaceutical firm behind one of the world’s Covid-19 vaccines, has had both its sales and revenues soar more than 50 per cent in the past few months.
The British-Swedish firm raked in $10.9bn (£8.7bn) in sales, and $11.3bn (£9bn) in revenue, in the first quarter of the year.
AstraZeneca’s cancer treatment revenue carried the revenue, having snagged $1bn (£802m) in total, and sales growth, similar to Covid-19 competitor Merck.
CEO Pascal Soriot hailed a strong start to the quarter, and unveiled new plans for a strategic research and development centre in Cambridge, Massachusetts.
The site, scheduled for completion in 2026, will be neighbour a number of academic, pharma and biotech institutions, for greater collaboration and innovation, while also providing access to future talent.
“Our investments in pioneering science give us confidence of further advances in the years to come,” he said in a statement.
The London-listed drugmaker early last month injected a further £100m into its research centre in Cambridge, UK, according to The Times, taking its total investment to £1.1bn.