AstraZeneca reported second-quarter revenue of $15.38 billion, marking a 5% increase adjusted for currency impact and nearly matching the $15.39 billion expected by analysts. However, the standout figure was the core earnings per share, which jumped 18% year-over-year to $2.63, well above the $2.48 forecast.
The company’s net income reached $2.51 billion, up from $2.45 billion last year. Growth was driven largely by a 15% increase in cancer treatment revenue on a constant currency basis, offsetting declines in cardiovascular, renal, metabolic, and infectious disease sectors.
Despite solid financials, AstraZeneca faced setbacks in clinical trials. Its Ultomiris therapy failed to meet the primary endpoint in a late-stage study targeting a rare stem-cell transplant complication. Earlier, the Wainua cardiac trial also fell short.
Nonetheless, a positive late-stage gastric cancer trial offered some hope for the pipeline’s future. CEO Pascal Soriot emphasized confidence in the company’s development prospects, highlighting more than 20 significant readouts expected in the next 18 months.
The firm reaffirmed its ambitious revenue goal of $80 billion by 2030, signaling strong long-term plans despite near-term clinical hurdles.
