Astra moves to profit from Covid-19 vaccine as earnings fall short

AstraZeneca Plc said it’s moving to profit from the Covid-19 vaccine it developed with the University of Oxford as new orders are received after supplying the shot at cost during the pandemic. 

The company will “progressively” transition to vaccine profitability from the fourth quarter, Astra said in its quarterly earnings report Friday. The gains will offset costs related to its Covid antibody cocktail, Astra said. The shares dropped after earnings in the quarter missed analysts’ estimates. 

Throughout the Covid crisis, Astra has said it wouldn’t take a profit from the vaccine “during the pandemic.” The company is making the move