AstraZeneca Seeks to Show Strength Against Pfizer

AstraZeneca Plc, the target of Pfizer’s Inc.’s takeover bid of more than $100 billion, forecast long-term sales growth as the company seeks to convince investors that it can succeed as a standalone drugmaker.

AstraZeneca will generate more than $45 billion in yearly revenue by 2023, following “strong and consistent” growth starting in 2017, the London-based company said today in a statement. Its pipeline of drugs, led by lung and ovarian cancer treatments, could generate as much as $63 billion in peak-year sales, the company said. Revenue last year totaled $25.7 billion.