(Reuters) – Drugmaker AstraZeneca lifted its annual sales and profit forecast for the second time in less than four months on Tuesday, helped by resilient demand for its cancer and rare diseases medicines, after third-quarter results beat estimates.
The London-listed company now expects 2024 revenue and core earnings per share to grow by high teens percentage, from a previous forecast of an increase by a mid-teens percentage at constant currency rates for both revenue and EPS.
“We are highly encouraged by the broad-based underlying momentum we are seeing across our company in 2024, and growth looks set to continue through 2025, providing a solid foundation to deliver on our 2030 ambition,” CEO Pascal Soriot said in a statement.
The drugmaker reported core EPS of $2.08 on total revenue of $13.57 billion for the quarter ended Sept. 30, above analyst expectations of $2.04 per share on revenue of $13.1 billion, according to a company-compiled poll.
(Reporting by Yadarisa Shabong in Bengaluru and Maggie Fick in London; Editing by Rashmi Aich)
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