Pascal Soriot, AstraZeneca CEO (Raphael Lafargue/Abaca/Sipa USA; Sipa via AP Images)
AstraZeneca's non-profit vaccine is, for now, costing them money
For the first earnings report of the year, AstraZeneca invented a new metric: the profit they’d have if you didn’t count their Covid-19 vaccine costs.
When AstraZeneca announced last year that they would develop Oxford’s Covid-19 candidate, they said they would sell it on a not-for-profit basis during the pandemic. The terms fulfilled the vaccine’s academic inventors’ desire to see their shot deployed cheaply around the world, while also allowing the drugmaker to do some good and, potentially, secure a massive PR coup.
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