AstraZeneca’s Q4 Revenue Up Due To Strong Sales Of Oncology And Cardiovascular Drugs

PUBLISHED: 06 Feb 2025 @ 20:39 | Comments (0) | More info about Fiona Craig

Drug company AstraZenica (LSE:AZN) has reported strong results for the fourth quarter. The company’s revenue rose by 21% to $54.1 billion (£43bn) in 2024. Pre-tax profit jumped by 38% to $8.7 billion last year on a constant currency basis.

The results come after AstraZeneca decided not to go ahead with a planned £450 million investment into a large vaccine hub in Merseyside, prompting a row with the UK government. The results released on Thursday morning did not mention this decision.

Shares rose 5% after the announcement. This boosted the FTSE 100 index to a new high, past 8,700.

AstraZeneca said cancer and respiratory & immunology treatments were the fastest-growing areas last year, with 24% and 25% annual rises in revenues, respectively. The firm forecasts total sales growth will slow this year, to a high single-digit percentage.

The company stuck to its revenue goal of $80 billion by 2031. It expects ate-stage results for seven new medicines this year.

AstraZenica has also suffered from a crisis in China, with the president of its Chinese business and other senior executives being detained over allegations of illegally importing cancer medicine. When this news broke in October 2024, the company’s share price dropped sharply, reducing the firm’s market value from a peak of more than £200bn in mid-August to about £170bn. The company announced on Thursday that the case involved suspected unpaid importation taxes of $900,00, which if it was found liable, could lead to a fine of one to five times that amount.

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