AstraZeneca Boosts Forecast Again Amid Strong Medicine Demand

AstraZeneca has increased its annual sales and profit forecast for the second time in four months, driven by strong demand for cancer and rare disease medicines. The company anticipates high teens percentage growth in revenue and core earnings per share for 2024, surpassing earlier projections.

AstraZeneca has once more revised its annual sales and profit forecasts upward, buoyed by robust demand for its cancer and rare disease treatments. This marks the second adjustment in four months, reflecting the pharmaceutical giant's optimism.

The London-based company now projects high teens percentage growth for its 2024 revenue and core earnings per share, as opposed to the mid-teens increase previously anticipated. CEO Pascal Soriot noted the company's expanding momentum across its operations and expects continued growth into 2025, aligning with AstraZeneca's long-term goals.

For the third quarter, AstraZeneca reported core earnings per share of $2.08 on total revenue of $13.57 billion. These results exceeded the analyst projections of $2.04 per share on $13.1 billion in revenue, underscoring the company's strong performance and strategic direction.

(With inputs from agencies.)