(Reuters) – AstraZeneca said on Tuesday it aims to increase its turnover by around 75% to reach $80 billion (73.65 billion euros) by 2030, with the expected launch of 20 new drugs and the development of its existing portfolio.
The pharmaceutical laboratory, which presented its objectives as part of its investor day, recorded a turnover of $45.81 billion last year.
Since arriving at the helm of the company more than a decade ago, CEO Pascal Soriot has replenished the portfolio of new drugs, with flagship products such as Tagrisso, a treatment for lung cancer, Calquence, for leukemia. , and Farxiga, a diabetes drug.
According to the executive, many of the new drugs AstraZeneca plans to launch between now and 2030 have the “potential to generate more than $5 billion in revenue in a peak year.”
Faced with the expiration of patents on some of its main drugs, Astrazeneca intends to continue to invest in new technologies and platforms that will “shape the future of medicine” beyond 2030.
For Jefferies analysts, the target of $80 billion in turnover was widely expected, and catalysts linked to the launch of major new treatments will remain “relatively rare” by 2025.
On the London Stock Exchange, AstraZeneca shares were up 0.86% at 08:22 GMT.
(Writing by Yadarisa Shabong in Bangalore, Alban Kacher, editing by Kate Entringer)
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