AstraZeneca reported higher-than-expected third-quarter earnings on Thursday, driven by strong sales of its cancer and cardiovascular drugs. The Anglo-Swedish pharmaceutical company maintained its full-year outlook, signaling confidence in its growth trajectory despite upcoming patent expirations.
The company, which aims to reach $80 billion in annual revenue by 2030, is relying on new product launches, including a blood pressure medication, to offset patent losses from major drugs such as Farxiga, its diabetes and heart treatment.
Chief Executive Pascal Soriot said the company’s performance in the first nine months of the year provided a solid foundation for future growth. “The strong underlying momentum across our business through the first nine months of the year sets us up well to sustain growth through 2026 and has us on track to deliver our 2030 ambition,” Soriot said in a statement.
Shares of AstraZeneca, London’s most valuable listed company, rose 1% in early trading at 0856 GMT following the results announcement.
Solid performance in key markets
For the three months ending Sept. 30, AstraZeneca reported a 12% increase in core earnings per share to $2.38 and a 10% rise in revenue to $15.19 billion at constant currency rates. Analysts had expected earnings of $2.29 per share and revenue of $14.79 billion, according to a company-provided poll.
Sales in the United States, which account for more than 40% of AstraZeneca’s total revenue, climbed 9% to $6.55 billion in the third quarter. Revenue from China, its second-largest market, rose 5% to $1.76 billion.
Investors have closely watched AstraZeneca’s operations in China following a government probe into its business and the arrest of a senior executive last year. Despite that, the company has continued to see steady growth in the region.
U.S. pricing deal details awaited
The drugmaker recently signed an agreement with U.S. authorities to lower prices for certain prescription medicines. The deal follows a $50 billion investment plan announced in July, as AstraZeneca seeks to expand its footprint and secure long-term access to the U.S. market.
The company also plans to list on the New York Stock Exchange to tap into a deeper capital pool. However, AstraZeneca has not disclosed how the pricing agreement might affect its financial results.
Global pharmaceutical companies have pledged billions in new U.S. investments in response to trade tensions and calls for greater domestic production of essential medicines. AstraZeneca’s strategy aligns with this broader industry shift aimed at reducing reliance on international supply chains.
Outlook steady despite patent risks
Analysts, including those at Barclays, had anticipated that AstraZeneca might raise its full-year forecast following the earnings beat. However, the company maintained its guidance, projecting high single-digit percentage revenue growth and low double-digit percentage growth in core earnings for 2025.
AstraZeneca’s continued focus on oncology and cardiovascular therapies has fueled its recent success. Blockbuster cancer drugs and heart treatments have been key drivers of revenue, and new launches are expected to help cushion the impact of upcoming patent expirations.
The company faces the challenge of maintaining its momentum while preparing for increased competition in its core therapeutic areas. Its ongoing expansion and pipeline development suggest AstraZeneca remains positioned to meet its long-term growth targets.
As of Thursday’s report, AstraZeneca’s results reinforced its status as a leading global pharmaceutical firm with a balanced portfolio, strong regional presence, and strategic investment in innovation.
