AstraZeneca PLC American Depositary Shares (AZN)
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AstraZeneca's new 2030 targets are bold attempt to reach for the stars, say analysts
After AstraZeneca PLC (LSE:AZN) unveiled new sales and profit targets for the end of the decade, analysts were mildly impressed by the ambition to "shoot for the stars". Starting with the bare numbers, UBS noted that the new target to achieve $80 billion in total revenue by 2030 compared to consensus core revenue of $67 billion and its own forecast of $72 billion.
AstraZeneca's new 2030 targets are bold attempt to reach for the stars, say analysts
After AstraZeneca PLC (LSE:AZN) unveiled new sales and profit targets for the end of the decade, analysts were mildly impressed by the ambition to "shoot for the stars". Starting with the bare numbers, UBS noted that the new target to achieve $80 billion in total revenue by 2030 compared to consensus core revenue of $67 billion and its own forecast of $72 billion.
AstraZeneca targets $80 billion in total revenue by 2030 with release of 20 new medicines
Pharmaceutical company AstraZeneca is planning to increase its total revenue by 75% and release 20 new medicines by 2030, including cancer treatments.
AstraZeneca kicks off ‘new era of growth' with aim to hit $80 billion of sales by 2030
AstraZeneca on Tuesday outlined ambitions to almost double its sales over the next six years by launching 20 new medicines by 2030.
AstraZeneca aims to boost revenues to $80bn by 2030
AstraZeneca PLC (LSE:AZN) aims to grow its revenue by about 75% to $80 billion by 2030, driven by the launch of 20 new medicines and growth in its oncology, biopharmaceuticals, and rare disease portfolios. In an announcement made ahead of the drug giant's investor day event on Tuesday, CEO Pascal Soriot, who has revitalised the company's drug pipeline over the past decade, highlighted potential blockbusters such as the lung cancer drug Tagrisso, Calquence for leukaemia, and diabetes treatment Farxiga.
AstraZeneca aims to deliver $80 billion in total revenue by 2030
AstraZeneca laid out its target to deliver $80 billion in total revenue by 2030 on Tuesday, boosted by the expected launch of 20 new medicines and through growth in its existing oncology, biopharmaceuticals and rare disease portfolio.
AstraZeneca lays out plans for $1.5bn Singapore plant
AstraZeneca PLC (LSE:AZN) has unveiled plans to build a US$1.5 billion (£1.2 billion) production plant in Singapore. This will be used to manufacture cancer-killing drugs known as antibody-drug conjugates, AstraZeneca announced on Monday.
AstraZeneca plans to build $1.5 bln manufacturing facility in Singapore
AstraZeneca is planning to build a $1.5 billion manufacturing facility in Singapore in an effort to enhance its antibody drug conjugates (ADCs) portfolio, the drugmaker said on Monday.
AstraZeneca (AZN) to Build $1.5B Cancer Drug Plant in Singapore
AstraZeneca (AZN Quick QuoteAZN - Free Report) announced its plans to spend $1.5 billion to build its first manufacturing facility in Singapore. Once built, it will be the company’s first facility to cover the full manufacturing process for its antibody drug conjugates (ADCs) portfolio at a commercial scale.ADCs are next-generation treatments that target cancer cells by delivering highly potent cancer-killing agents through a targeted antibody.AstraZeneca is building the manufacturing site to ensure a safe and reliable supply of ADCs. Per management, ADCs have demonstrated ‘enormous potential’ to replace traditional chemotherapy across many settings. The company has a broad portfolio of in-house ADCs, including six wholly-owned ADCs in its clinical pipeline and many more in preclinical development.With support from Singapore’s government, AstraZeneca intends to start construction before the end of this year and expects it to be operational beginning in 2029. Per management, the facility will emit zero carbon from the start. AstraZeneca’s shares have risen 14.2% year to date compared with the industry’s 15.3% growth.Image Source: Zacks Investment ResearchAZN’s focus on ADCs comes from the success achieved by the company from its only marketed ADC drug in its portfolio, Enhertu, which has been developed in collaboration with partner Daiichi Sankyo.Per the partnership terms, Daiichi Sankyo recognizes the U.S. sales of Enhertu while AstraZeneca records its share of gross profit margin from Enhertu sales under Alliance revenues. Daiichi Sankyo is responsible for the manufacturing and supply of Enhertu.Enhertu is presently approved across multiple indications, including advanced or metastatic HER2-positive gastric cancer, previously treated HER2-mutant metastatic non-small cell lung cancer (NSCLC) and metastatic HER2-positive and HER2-low breast cancer. The fifth indication, i.e., metastatic HER2-positive solid tumors, was approved by the FDA last month.Since its initial launch in 2019, Enhertu has shown an impressive initial uptake. During the first quarter of 2024, Enhertu generated around $339 million in alliance revenues for AstraZeneca.Both companies are also developing a second ADC drug, datopotamab deruxtecan, across multiple late-stage studies targeting several cancer indications across different treatment settings.The ADC space has garnered much interest from big pharma, especially in the last year when bigwigs Merck (MRK Quick QuoteMRK - Free Report) and Pfizer (PFE Quick QuotePFE - Free Report) made multi-billion-dollar deals in this space.Pfizer forayed into this space when it acquired ADC drugmaker Seagen last year for $43 billion. Post this acquisition, Pfizer added three ADCs to its portfolio — Adcetris (brentuximab vedotin), Padcev (enfortumab vedotin) and Tivdak (tisotumab vedotin) — all approved across solid tumors and hematologic malignancies. Per the deal, Pfizer also acquired Seagen’s proprietary ADC technology. To boost its oncology portfolio, Merck entered into an agreement with Daiichi Sankyo to jointly develop and market three investigational ADC drugs for a total potential consideration of up to $22 billion. Merck’s deal with Daiichi involves three ADCs, namely patritumab deruxtecan, ifinatamab deruxtecan and raludotatug deruxtecan, which are across multiple solid tumor indications in different stages of clinical development. Per Merck, this deal holds multi-billion dollar worldwide commercial revenue potential for each company approaching the mid-2030s.The terms of the deal entered between Merck and Daiichi are similar to the ones entered between AstraZeneca and Daiichi. Though Daiichi and Merck will equally share expenses and profits, the former will be solely responsible for manufacturing and will also generally book sales worldwide.AstraZeneca PLC Price AstraZeneca PLC price | AstraZeneca PLC Quote Zacks RankAstraZeneca currently carries a Zacks Rank #3 (Hold). Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>
