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BUSINESS LIVE: AstraZeneca posts over $1bn in vaccine sales

BUSINESS LIVE: AstraZeneca posts over $1bn in vaccine sales, Water firms ordered to slash bills; Toshiba to split into three businesses

AstraZeneca’s Covid-19 vaccine contributed one cent to earnings per share in the third quarter and it expects the shot to move to ‘modest profitability’ on new orders after the drugmaker posted $1.05billion in sales for the period.

The firm, which has said will not make a profit from the shot during the pandemic, this week unveiled plans to set up a separate division for vaccines and antibody treatments to focus on its coronavirus efforts.

Water companies will be forced to slash customer bills by more than £67million next year in England and Wales, as many failed to live up to standards set by themselves and the regulator.

Thames Water, the supplier for the London region, will have to slash bills by £53million in the year ending March 2023. Southern Water will have to forgo nearly £46million and Southwest Water more than £15million.

Japan’s Toshiba is set to break up into three independent companies by spinning off its core energy and infrastructure businesses, as well as its device and storage business.

It is understood that the plan – borne of a five-month strategic review undertaken after a highly damaging corporate governance scandal – is partly aimed at encouraging activist shareholders to exit.

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Astrazeneca’s total revenue jumped 47% to $9.74bn for the three months to September