Health
Astra Aims to Almost Double Sales to $80 Billion by 2030
- Drugmaker’s growth will be fueled by 20 new medicine launches
- CEO Pascal Soriot is reaping the benefits of his bet on cancer
AstraZeneca will launch 20 new medicines by the end of the decade.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
AstraZeneca Plc aims to almost double sales to $80 billion by 2030 as Chief Executive Officer Pascal Soriot cements his legacy at the British drugmaker that he helped save with a bet on cancer treatments.
The company, which generated $45.8 billion in revenue last year, will launch 20 new medicines by the end of the decade to meet the new total revenue target, Astra said Tuesday. That’s an increase from previous estimates of only 15 given by the company. Many of the new drugs, which mostly come from its oncology division, will generate more than $5 billion annually, Soriot said in a statement.