AstraZeneca aims for $80 bln in total revenue by 2030

AstraZeneca aims to grow revenue by about 75 per cent to $80 billion by 2030, it said on Tuesday, boosted by the expected launch of 20 new medicines and through growth in its existing oncology, biopharmaceuticals and rare disease portfolio.

The Anglo-Swedish drugmaker had reported total revenue of $45.81 billion last year and earlier expected to launch at least 15 new medicines between 2023 and 2030.

CEO Pascal Soriot has rebuilt the company's pipeline of new drugs since taking the helm more than a decade ago, with blockbusters such as lung cancer drug Tagrisso, leukaemia drug Calquence and Farxiga for diabetes.

Shares in the London-listed firm rose 1 per cent in early trade, ending a six-day losing streak.

They have gained about 15% so far in 2024, underperforming rivals Novo Nordisk's 29 per cent gain and GSK's nearly 21 per cent rise this year.

Still, shares traded at a record on April 29 and have more than tripled since 2014.

The Cambridge-based firm is hosting an investor day event on Tuesday at 0900 GMT, for the first time in a decade.