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British Covid vaccine maker AstraZeneca warned that coronavirus product sales and profit margins would drop this year as the pandemic recedes and after record-high group revenue in 2021.
AstraZeneca rapidly developed a successful Covid-19 jab during the pandemic that generated full-year sales of almost $4.0 billion (3.5 billion euros) last year, the company said in a results statement.
After initially offering the vaccine at cost, Astra decided in November to begin selling Vaxzevria — developed alongside University of Oxford — for profit, AFP reports.
