Health

AstraZeneca Surges as Cancer Medicines Fuel Profit Gains

Revenue spiked in the first quarter, surpassing expectations
Shares have biggest gain in more than 3 years after results

WATCH: AstraZeneca CFO Aradhana Sarin discusses first-quarter earnings, implications of the US Inflation Reduction Act and the outlook for the company’s commercial business in China on Bloomberg Television.Source: Bloomberg

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By Ashleigh Furlong

April 25, 2024 at 6:18 AM UTC

Updated on

April 25, 2024 at 9:03 AM UTC

This article is for subscribers only.

AstraZeneca Plc shares surged after the UK drugmaker reported profit that outpaced expectations, buoyed by demand for its cancer blockbusters Imfinzi and Tagrisso as well as newcomer Enhertu.

The stock rose as much as 6.5% in London trading, the most in more than 3 years, after Astra reported earnings per share excluding some items of $2.06 in the first quarter.