AstraZeneca to book modest profit from coronavirus vaccine

British-Swedish pharmaceutical company AstraZeneca says it will start to book a modest profit from its coronavirus vaccine as it moves away from the nonprofit model it's operated during the pandemic

LONDON -- British-Swedish pharmaceutical company AstraZeneca said Friday that it will start to book a modest profit from its coronavirus vaccine as it moves away from the nonprofit model it has operated during the pandemic.

In a third-quarter update, the company said it is “now expecting to progressively transition the vaccine to modest profitability as new orders are received.” It said the “limited" profits from the vaccine in the fourth quarter will offset costs related to its antibody cocktail developed to prevent and treat COVID-19.

Until now, AstraZeneca said it would provide the vaccine “at cost” — around $2 to $3 — for the duration of the pandemic following an agreement with the University of Oxford, which developed the vaccine. Other COVID-19 vaccine producers, such as Pfizer and Moderna, have been booking hefty profits on their shots all along.

AstraZeneca confirmed Friday that it will not be making any coronavirus vaccine profits from developing countries.