AstraZeneca's Forecast Soars Amid Robust Drug Demand

AstraZeneca has raised its sales and profit forecast for 2024 due to strong demand for its cancer and rare disease medications. The company now expects revenue and core earnings per share to increase in the high teens percentage range, up from a previous mid-teens expectation.

AstraZeneca, the pharmaceuticals giant, has once again revised its annual sales and profit forecast upward, signaling robust demand for its cancer and rare diseases treatments. This marks the second such revision in less than four months, reflecting the company's strong market position.

The London-listed firm now anticipates its 2024 revenue and core earnings per share to rise by a high teens percentage. This comes as a significant boost from the previous forecast, which projected increases in the mid-teens percentage at constant currency rates for both revenue and EPS.

AstraZeneca's upward revision underscores the continued resilience in the healthcare sector, particularly in the lucrative niches of oncology and rare diseases, where the demand for innovative treatments remains strong despite broader economic uncertainties.

(With inputs from agencies.)