Today, AstraZeneca unveiled its ambitious target to achieve $80 billion in Total Revenue by 2030, a significant increase from the $45.8 billion reported in 2023. This expansion will be fueled by substantial growth in its existing oncology, biopharmaceuticals, and rare disease portfolio, alongside the anticipated launch of 20 new medicines before the decade concludes. Looking beyond 2030, the company plans to sustain growth by investing in transformative technologies and platforms that will revolutionize the field of medicine.
Emphasizing a strategic commitment to research and development (R&D), AstraZeneca aims to enhance productivity across the organization, driving operational efficiency to achieve a mid-30s percentage Core operating margin by 2026. Post-2026, the Core operating margin will be influenced by portfolio evolution, with a target of maintaining at least a mid-30s percentage range.
Pascal Soriot, AstraZeneca’s CEO, declared, “Today marks the dawn of a new era of growth for AstraZeneca. In 2023, we surpassed the ambitious $45 billion revenue goal set a decade ago. Now, with our robust pipeline poised to transform countless lives, we are setting our sights on $80 billion by 2030.”
The company plans to introduce 20 new medicines by 2030, many with the potential to generate over $5 billion in peak year revenues. A diverse portfolio coupled with continued investment in innovation positions AstraZeneca for sustained growth well beyond the current decade.
As AstraZeneca expands its presence across therapeutic areas, it remains committed to reducing carbon emissions relative to revenue growth. Already, the company has achieved a 68% reduction in greenhouse gas emissions (Scopes 1 and 2) since 2015, despite an 85% increase in Total Revenue over the same period. By 2026, AstraZeneca aims to achieve carbon neutrality for Scope 1 and 2 emissions, with a goal of halving Scope 3 emissions by 2030 on the path to science-based net zero by 2045 at the latest.
Investors can join the webcast of the Investor Day event on May 21, 2024, at 10:00 UK time for further insights. Details are available at www.astrazeneca.com/investor-relations/astrazeneca-investor-day.html.
AstraZeneca’s ambitions, forecasts, and targets are based on the most recent risk-adjusted mid- and long-term plans, incorporating developments in the business since their formulation. These projections rely on management’s risk-adjusted estimates for individual medicines and clinical trials, considering industry-wide data and the specific asset’s risk profile. While the company utilizes customary forecasting methodologies, it acknowledges the inherent uncertainties in pharmaceutical development and the potential variance between projected and actual performance in future years.
For more information on AstraZeneca’s operations, visit astrazeneca.com and follow the company on social media @AstraZeneca.
This document contains forward-looking statements regarding the operations, performance, and financial condition of AstraZeneca, including expected revenues, margins, and earnings per share. Despite reasonable assumptions and customary forecasting methodologies, actual outcomes may differ materially due to various factors beyond the company’s control, such as pipeline success, regulatory requirements, commercial strategies, pricing pressures, supply chain management, and geopolitical events. AstraZeneca cautions investors against undue reliance on forward-looking statements, emphasizing the inherent risks and uncertainties in pharmaceutical development and market dynamics.
