Robust pipeline and cost discipline secure future growth for AstraZeneca

Overview

AstraZeneca delivered strong financial performance in 2024, with total revenue reaching $54.07bn and core EPS increasing to $8.21. The company experienced robust demand across its key therapeutic areas, including oncology, cardiovascular, renal, metabolism (CVRM) and rare disease.

CEO Pascal Soriot highlighted the company’s continued momentum and future ambitions: “This year marks the beginning of an unprecedented, catalyst-rich period for our company, an important step on our Ambition 2030 journey to deliver $80 billion Total Revenue by the end of the decade.”

Q4 2024 vs. Q4 2023:

• Total revenue increased to $14.89bn (+25% YoY), driven by strong demand across all major therapy areas, particularly in oncology and rare disease treatments.
  • Oncology revenue was $6.34bn (+29% YoY), fueled by continued growth of key cancer therapies such as Tagrisso, Imfinzi, and Lynparza.
  
  
  • CVRM revenue rose to $3.14bn (+17% YoY), a strong performance led by Farxiga, which remained a market leader in heart failure and kidney disease.
  
  
  • Rare disease revenue recorded a value of $2.38bn (+22% YoY), supported by higher demand for Ultomiris and Strensiq, which are increasingly used for neurological and metabolic diseases.
• Core EPS increased to a value of $2.09 (+49% vs. Q4 2023), reflecting higher product sales, operational efficiencies, and disciplined cost management.

Full-Year 2024 highlights:

• AstraZeneca had the highest revenue in history, worth $54.07bn (+21% YoY), supported by strong product sales growth (+19%) and increased collaboration revenue (+54%).
  • Oncology revenue increased to $22.4bn (+24% YoY), with Tagrisso revenue of $6.58bn (+16% vs. 2023), Imfinzi revenue of $4.72bn (+21% vs. 2023), Lynparza revenue of $3.67bn (+22% vs. 2023) and Enhertu revenue of $1.98bn (+58% vs. 2023).
  
  
  • CVRM revenue recorded a value of $12.5bn (+20% YoY), with Farxiga revenue of $7.72bn (+31% vs. 2023) and Brilinta revenue of $1.33bn (+2% vs. 2023).
  
  
  • Rare disease revenue rose to $8.8bn (+16% YoY), with Ultomiris revenue of $3.9bn (+34% vs. 2023), Soliris revenue of $2.6bn (-14% vs. 2023) and Strensiq revenue of $1.4bn (+24% YoY).
  
  
  • Strong revenue growth was in the U.S. (+22%) and Europe (+26%), while China faced moderate headwinds due to market dynamics.
• Core EPS increased to $8.21 (+19% YoY), driven by by higher revenue, cost control initiatives, and improved profitability.
• Annual dividend increased to $3.10 per share (+7% vs. 2023), demonstrating confidence in sustained growth and commitment to shareholder returns.
• R&D Investment increased by 24%, reflecting AstraZeneca’s focus on advancing high-value Phase III studies and securing regulatory approvals for innovative therapies.

For 2025, AstraZeneca expects to maintain strong growth momentum, with total revenue projected to increase by a high single-digit percentage, driven by continued demand for innovative therapies. Core EPS is expected to grow by a low double-digit percentage, reflecting operational efficiency and strong product sales. The company plans to sustain elevated R&D investments, supporting seven new Phase III readouts and multiple new drug launches. Additionally, AstraZeneca has announced a dividend increase to $3.20 per share, reinforcing its commitment to shareholder returns. With a robust pipeline, increasing global demand, and disciplined financial management, AstraZeneca remains well-positioned to sustain long-term revenue growth and deliver on its Ambition 2030 strategy.

The announcement of the publication of the results brought good feelings from investors, with the price of AZN shares increasing by approximately 2.5% immediately after the publication of the report, after which, towards the end of this trading week, the price stabilized around $72.

Author: Andreea-Roxana Danci