AstraZeneca Predicts Revenue Hit as Demand for COVID-19 Vaccines Falls

Vials labelled "Astra Zeneca COVID-19 Coronavirus Vaccine" and a syringe are seen in front of a displayed AstraZeneca logo, in this illustration photo taken on March 14, 2021. Dado Ruvic/Illustration/Reuters

Anglo-Swedish pharmaceutical giant AstraZeneca said that it expects the revenue from its COVID-19 vaccines to decline by up to a quarter this year as demand wanes for the product.

Announcing its results for the first quarter of 2022, the firm said the sales of Vaxzevria—more commonly known as the Oxford/AstraZeneca vaccine—is expected to decline later in the year.