AstraZeneca 2021 Results: Osimertinib Sales Exceed $5 Billion

On February 10, AstraZeneca announced its 2021 results. For the full year, the company achieved revenue of $37.417 billion, an increase of 41% year-over-year (38% on a CER basis), including a 62% increase in Q4 to $12.011 billion. The new crown vaccine contributed $3.917 billion in sales in 2021, and AstraZeneca’s total revenue after the vaccine was still up 26%.

AstraZeneca looks to the future for the next 3 years and beyond. AstraZeneca expects industry-leading double-digit growth between 2022 and 2025, based on several blockbuster drugs.

Beyond 2025, AstraZeneca will provide a continuously growing revenue base through life-stream management of marketed drugs; through the development of late-stage key products to cover multiple potential first or best-in-class new drugs with high unmet needs therapeutic areas in need, etc.

China is one of the important sources of AstraZeneca's revenue, with revenue of US$6.011 billion in 2021, a year-on-year increase of 12%. However, due to the price reduction pressure caused by medical insurance negotiations and centralized procurement, AstraZeneca's growth in China will slow down in 2021 H2, and Q4 single-quarter revenue fell by 4% year-on-year.

At the same time, in the 2022 financial guidance provided in the financial report, AstraZeneca expects that there may be a mid-single-digit decline in performance in China in 2022, mainly due to the continued impact of centralized procurement and medical insurance.

Specific to each therapeutic area, the oncology field contributed the highest revenue, accounting for 37% of total revenue (43% in 2020), and achieved revenue of US$13.663 billion, a year-on-year increase of 21%.

Osimertinib (Tagrisso) broke the $5 billion mark for the first time this year, up 13% year-over-year. Sales in the United States were US$1.780 billion (+14%), mainly due to first-line and adjuvant treatment indications, covering more patient populations, but some of them were reduced by second-line treatment drugs, and difficulties in diagnosis and testing brought about by the epidemic offset.

In emerging markets, including China, osimertinib's annual sales increased by 6% to $1.336 billion; AstraZeneca pointed out that the new version of the medical insurance catalogue that took effect in March included osimertinib's first- and second-line indications, the new treatment demand brought about is basically the same as the impact of the price reduction (almost completely offset).