AstraZeneca unveiled an ambitious blueprint yesterday, planning to launch 20 new drugs over the next six years to increase its annual sales to $80 billion, nearly doubling from $45.8 billion in 2023.
This growth target implies that the company's annual compound growth rate will reach 7%, surpassing analysts' previous expectations.
After the announcement, AstraZeneca's US stocks rose more than 1% in pre-market trading.
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The pharmaceutical giant stated that the key to achieving this goal is to strengthen its existing oncology, biopharmaceutical, and rare disease product lines, while introducing multiple innovative therapies with annual sales potential to exceed $5 billion.
AstraZeneca CEO Pascal Soriot stated:
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The company will continue to invest heavily in &#34;transformative new technologies&#34; to ensure sustained growth momentum beyond 2030.
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This ambitious goal reappeared after nine years. AstraZeneca had set a sales target of $45 billion in 2014, which was finally achieved last year. At the same time, the company also plans to maintain its core operating profit margin at around 30% and increase research and development investment.
Analysts pointed out that AstraZeneca announced a $1.5 billion investment to build a new factory in Singapore dedicated to producing antibody-drug conjugates. These innovative therapies can precisely kill cancer cells and protect healthy cells, seen as a significant growth driver for the company's future

This growth target means that the company's compound annual growth rate will reach 7%, exceeding analysts' previous expectations

AstraZeneca aims to double its revenue by 2030 and is expected to launch more than 20 new drugs