Astra kicked-off 2022 on a good note, with solid growth in Farxiga and higher COVID-19 vaccine sales, off-setting weaknesses in lynchpin oncology and rare diseases. Although vaccine-driven top-line tailwinds are expected to dissipate soon, this is expected to be offset by a recovery in the core areas. In Q1, profitability again came under pressure but improved sequentially, and should improve further as the ‘young’ portfolio rolls over. Overall, decent results and our positive recommendation on ....
