By Fineline Cube 
UK-based AstraZeneca (NASDAQ: AZN) released its Q1 2025 financial results, showing a 10% year-on-year (YOY) increase in total revenues to USD 13.59 billion in constant currency terms. Product sales grew by 9% YOY to USD 12.88 billion, while alliance revenues surged by 42% to USD 639 million. Guidance for the year remains unchanged.
Segment Performance
The oncology segment grew by 13% to USD 5.64 billion, while biopharmaceuticals increased by 12% to USD 5.63 billion. Key product sales included:
- Farxiga (dapagliflozin) for type 2 diabetes: USD 2.06 billion, +16%
- Tagrisso (osimertinib) for lung cancer: USD 1.68 billion, +8%
- PD-L1 inhibitor Imfinzi (durvalumab): USD 1.26 billion, +16%
- BTK inhibitor Calquence (acalabrutinib): USD 762 million, +8%
- Enhertu (trastuzumab deruxtecan): USD 596 million, +34%
- PARP inhibitor Lynparza (olaparib): USD 726 million, +5%
R&D Highlights
CEO Pascal Soriot highlighted five positive Phase III studies reported this year, including two new molecular entities (NMEs): camizestrant, an oral selective estrogen receptor degrader (SERD) and complete ER antagonist, which hit endpoints for HR-positive, HER2-negative advanced breast cancer in combination with a CDK4/6 inhibitor; and eneboparatide, a parathyroid hormone receptor 1 agonist, which produced positive data in adults with chronic hypoparathyroidism. Soriot also announced the establishment of an R&D center in Beijing, China, the company’s second global-level R&D center after Shanghai and its sixth globally.
Regional Performance
| Location | Q1 Sales (USD mil.) | % of Total | Growth (%) |
|---|---|---|---|
| US | 5,646 | 42 | 10 |
| Emerging markets ex. China | 2,138 | 16 | 17 |
| China | 1,805 | 13 | 5 |
| Europe | 2,759 | 20 | 9 |
| Established ROW | 1,239 | 9 | 9 |
Source: AstraZeneca
China Market Specifics
AstraZeneca expects headwinds later this year as Farxiga and roxadustat are included in China’s volume-based procurement (VBP) program. Falling sales of asthma and COPD drug Symbicort (budesonide, formoterol fumarate) were mainly due to decreased demand in the China market, but this was offset by the triple-acting COPD drug Breztri (budesonide, glycopyrrolate, formoterol fumarate) gaining a market-leading share. Other growth drivers in China included Imfinzi for gastrointestinal cancer and Zoladex (goserelin) for breast and prostate cancer.
Investigations in China
The investigations into AstraZeneca over illegal importation of cancer drugs and misuse of patient data in Guangdong province appear to be concluding without significant fallout. The company owes USD 1.6 million in importation taxes for Enhertu and may face a fine of up to USD 8 million. The case regarding alleged personal information infringement has been transferred to the prosecutor in Shenzhen, but the company has been informed there were no illegal gains from any alleged infringement.
Preparedness for Tariffs
CEO Pascal Soriot reassured investors during the earnings conference call regarding AstraZeneca’s preparedness for potential tariffs from the US administration. The company’s global production network includes 31 sites, with 11 in the US. AstraZeneca has committed to investing an additional USD 3.5 billion in the US market by the end of 2026. Soriot noted that any impact from tariffs would be manageable within the company’s global network.-Fineline Info & Tech