25 July 2024
If you are covering AstraZeneca's results, please see the following comment from Sheena Berry, healthcare analyst at Quilter Cheviot:
"AstraZeneca posted a strong set of results this morning, with Q2 proving to be another quarter of strong product sales growth. Management has raised guidance for FY 2024, citing both strong growth and continued underlying demand for its medicines, and is anticipating a year of mid-teens growth.
"The group continues to invest in product launches and has a strong pipeline, with over 40 Phase 3 trial readouts expected by the end of 2025. AstraZeneca’s long term outlook remains attractive with the group targeting $80 billion in total revenue by 2030.
"Though there are plenty of positives, there are still some headwinds for AstraZeneca to contend with. Primarily, these include the impact of the Inflation Reduction Act, as well as upcoming patent expirations on some drugs, but any headwinds are expected to be more than offset by growth from its existing portfolio as well as new drug launches.
"AstraZeneca has reiterated its commitment to investing in research and development to ensure future growth and is prioritising categories such as antibody-drug conjugates, bispecifics, cell therapy and gene therapy to ensure it sees strong future growth beyond 2030."
