AstraZeneca has reported its largest quarterly revenue in company history, with third-quarter sales rising 10% to $15.2 billion, exceeding analyst expectations of $14.8 billion. The FTSE 100 pharmaceutical company said it remains on track to meet its key 2030 target of generating $80 billion in group sales, Reuters reported.
Growth was broad-based across all therapy areas and regions in the first nine months of the year, led by oncology, which recorded a 16% increase. Chief Executive Sir Pascal Soriot highlighted the company’s strong pipeline, noting 16 positive phase III trial readouts this year, including significant results for Baxdrostat in hypertension and Enhertu and Datroway in breast cancer.
Shares in AstraZeneca opened slightly lower, down 0.2% at £124.24 on the London Stock Exchange, though the stock remains up 18% year-to-date, valuing the company at £194 billion. Shareholders recently approved plans for a direct listing in New York while retaining its London listing, headquarters, and UK tax base, signaling a continued pivot toward the United States, its largest market.
The US expansion follows an agreement with the Trump administration to lower medicine costs for American patients and includes a $4.5 billion manufacturing facility in Virginia. AstraZeneca has pledged $50 billion in US manufacturing and R&D investment by 2030, with the US expected to account for more than half of the company’s revenue by decade-end. Despite the strong quarterly performance, AstraZeneca reiterated its 2025 guidance of high single-digit revenue growth and low double-digit growth in core earnings per share, underscoring steady execution of its long-term strategy.
