At its recent investor day, AstraZeneca plc (NASDAQ: AZN), a prominent UK pharmaceutical company, articulated its long-term objectives to shareholders. The company outlined an ambitious plan to achieve revenues of $80 billion by 2030, which is nearly double the $45.8 billion reported in 2023. This target will be pursued by maximizing the returns on its current portfolio and by launching 20 new molecular entities (NMEs) over the next decade, an escalation from the previous target of 15 NMEs.
AstraZeneca’s CEO, Pascal Soriot, is setting these enhanced targets following the company’s early achievement of the previous goal to reach $45 billion in revenues by 2023. Last year, AZ’s sales surpassed this mark, and in Q1 2024, product sales experienced an 18% year-on-year (YOY) increase at constant exchange rates. Analysts have noted that to meet the new 2030 target, AstraZeneca will need to maintain an average annual growth of approximately 8% YOY.
Currently, AstraZeneca has 7 NMEs in Phase III development, with another 5 in the Phase I/II stage. Many of these are anticipated to become blockbusters, with the potential to generate $5 billion annually at their peak. Some of the late-stage NMEs include new formulations of the type 2 diabetes drug dapagliflozin, such as fixed dose combinations with balcinrenone for heart failure and chronic kidney disease, and with zibotentan for chronic kidney disease. In oncology, the pipeline features bispecific antibodies volrustomig (PD-1 and CTLA-4) and rilvegostomig (PD-1/TIGIT), the TROP2-targeted ADC datopotamab deruxtecan co-developed with Daiichi Sankyo, and the next-generation PARP inhibitor saruparib.- Flcube.com
