AstraZeneca announced ambitious revenue targets and a plan to expand its portfolio with up to 20 new drugs, signaling growth from 2025.
Britain’s second-largest company AstraZeneca (LSE:AZN) told investors it is aiming to increase revenue by three-quarters to $80 billion a year by the end of this decade.
It plans to do so by expanding its range of products across key medicinal portfolios including oncology, biopharmaceuticals, and rare diseases.
The projection came as chief executive Pascal Soriot hosted AstraZeneca’s ‘investor day’ event
"The breadth of our portfolio together with continued investment in innovation supports sustained growth well past the end of the decade," Soriot said in a statement.
AstraZeneca intends to launch up to 20 new drugs, and, City analysts noted that the latest investor coms would be in line with the company’s signaling that its growth would ramp in from 2025 onwards, though they await more detail from the drug maker before updating the broker’s forecasting.
In London, AstraZeneca shares gained 2.2% on Tuesday, closing the session at 12,364p.
