AstraZeneca targets $80 billion in total revenue by 2030 in 'post-COVID era' – NBC Los Angeles


  • Pharmaceutical company AstraZeneca said on Tuesday it planned to increase its total revenue to $80 billion by 2030 – a 75% increase from $45.8 billion in 2023.
  • AstraZeneca said it would focus on its oncology, biopharmaceuticals and rare diseases businesses and expected to release an additional 20 medicines during the period.
  • “Many of them have the potential to be $5 billion worth of drugs,” AstraZeneca Chief Financial Officer Aradhna Sarin told CNBC.

LONDON – Pharmaceutical company AstraZeneca said on Tuesday it planned to increase its total revenue to $80 billion by 2030 – a 75% increase from $45.8 billion in 2023.

“We are very confident in this $80 billion ambition because of the portfolio and the breadth and scale of the portfolio,” AstraZeneca Chief Financial Officer Aradhna Sarin told CNBC's Arabile Gumede on Tuesday.

AstraZeneca will focus on its oncology, biopharmaceuticals and rare diseases businesses and expects to release an additional 20 medicines over the next six years.

“The value of many of those drugs is likely to reach $5 billion,” Sarin said. A statement from the company detailed that for many new drugs this revenue figure could be annualized in peak years.

Following the announcement, Europe-traded shares in AstraZeneca were 0.66% higher at 9:35 a.m. London time.

AstraZeneca's plans include developing drugs to treat at least half of all potential cancers and developing alternatives to classic treatments such as chemotherapy and radiation.

“It will take time to replace entire markets, but we think we have the technology today to replace them,” Sarin told CNBC.

Some cancer treatments developed by AstraZeneca have already been approved by the US FDA, including the drug Enhertu, a so-called antibody drug conjugate developed with Japanese drugmaker Daiichi Sankyo that aims to treat breast cancer patients.

AstraZeneca has also announced acquisitions of pharmaceutical companies, including cancer-treatment focused Fusion Pharmaceuticals Inc. On Monday, the company revealed plans to build an antibody drug conjugate manufacturing facility in Singapore.

“This is new technology that will replace chemotherapy. It's very complex manufacturing, which is why you need end-to-end, which is why we decided to make this investment in Singapore,” Sarin said. ” He said investments have also been made at other AstraZeneca sites.

'Post-Covid era'

AstraZeneca became a household name during the COVID-19 pandemic when it developed one of the first shots against the disease in collaboration with the University of Oxford. The drug, known as Vaxzevria, will be withdrawn from the market given the lack of demand and the emergence of other shots tailored to specific Covid variants.

“For us, definitely, this is the post-Covid era,” Sarin told CNBC. “We oversupplied vaccines during the COVID pandemic because, you know, it was a public health crisis. It wasn't really our job to be involved in COVID vaccines.”

Sarin said AstraZeneca's business has historically been focused on areas such as oncology and cardio-vascular health and this will remain the company's focus going forward. He indicated that drugs for diabetes and metabolic diseases will also play a role in AstraZeneca's growth.

“We are also looking at some weight management medications, potentially combining them with medications that help the comorbidities of many patients who have weight management problems,” he said.

AstraZeneca last year struck a deal with Shanghai-based pharmaceutical company Accogene for a weight loss and cardio-metabolic drug, entering the weight management drug race that is currently dominated by Novo Nordisk's Wegovy and Ozempic, as well as Eli Lilly's Monjaro.

But supply shortages could mean competitors including Pfizer and Amgen could play a bigger role in the market this year.

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